2023-10-03 01:04:17
There were four possible applicants. Only one has now received the green light from the world association for the next phase on the way to entry into Formula 1.
Paris.
Former racing driver Michael Andretti has overcome an important hurdle to become the eleventh team on the Formula 1 grid with his US project. The International Automobile Federation approved the application after a “thorough analysis,” the FIA announced.
After Andretti submitted a declaration of interest in the first phase, he can now enter the application, evaluation and approval process in the second official phase.
Three other possible applicants failed. “Andretti Formula Racing LLC was the only company that met the established selection criteria in all material respects,” said FIA President Mohammed Ben Sulayem. Andretti is aiming to enter the premier motorsport class with the General Motors subsidiary Cadillac.
Up to twelve F1 teams possible
The world association FIA wants to expand the premier class of motorsport from the current ten teams from 2025 or later. However, the racing teams currently represented are critical of another team. The point of contention is, among other things, the amount of the entry fee for a new racing team, with which the established teams are compensated for the fact that they would receive a smaller share of the marketing revenue in the future.
In the basic contract, this protective payment is set at $200 million. According to the agreement between the world association, the Formula 1 owners and the racing teams, there is space for up to twelve teams in the starting field. To get started, Andretti ultimately needs the green light from the marketer, Formula One Management.
“We take note of the FIA’s results and statements regarding the first and second phases of its application process and will now carry out our own assessment as to whether the remaining application is justified,” the magazine “auto, motor und sport” quoted the reaction as saying of Formula 1 management on the FIA decision. (dpa)
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