(Motorsport) Andretti has partnered with General Motors in a bid to secure Cadillac’s entry into Formula 1. Michael Andretti is the last American racer to secure points in Formula 1 and is now a successful team owner, however, he is facing significant opposition from other Formula 1 teams who have been critical about an ‘all-American’ entry, particularly due to the dilution of the prize money that it would bring. Every new Formula 1 team is expected to pay a $200 million ‘expansion fee’ to offset that dilution, but many F1 bosses believe that Andretti should pay $600-800 million instead.
“It’s all about money. First, they think they are going to get diluted one-tenth of their prize money, but they also get very greedy thinking we will take all the American sponsors as well. It’s all about greed and looking at themselves and not looking at what is best for the overall growth of the series. We check all the boxes.
“The only box we didn’t have checked when we were working on our entry was, we didn’t have an OEM behind us, but now we have GM and Cadillac behind us. They are going to bring a lot to the party to help us get a race car on track. We are very bullish at this moment. There is still a long way to go, and we are willing to follow every procedure that needs to be done. We are in a good position for it.”
Michael Andretti
Andretti said that the FIA along with McLaren and Alpine have supported Andretti’s bid while Formula 1 have not been as enthusiastic. F1 have said that there are several teams interested in being a part of the sport and a proposed new entry will need approval from the FIA and Formula 1, which won’t be possible until 2026. FIA President Mohammed Ben Sulayem publically supported Andretti’s bid on social media and said that he was “surprised” by the backlash they faced.
“I’m not surprised. In Formula 1, the owners look out for themselves; not what is best for the series. That is the difference between President Mohammed’s position and the team owner’s position. President Mohammed is looking out for the future of the sport. Mohammed gets it. He’s a racer and he understands the series needs to have one or two more teams. It is an FIA championship, and it holds most of the cards to get the expression of interest going.
“Zak [Brown, McLaren CEO] wants to do whatever he can to help us get there and so has Alpine as well. Zak Brown and Alpine are two very good allies. Zak has been very supportive. Zak has been a great friend and ally. He gives me advice and is there to help. We help each other. I’ve been helping him a lot when he came to IndyCar racing. It’s a friendship that works both ways.”
Michael Andretti
Also read: Formula 1: Andretti face backlash over potential entry despite FIA backing
