Andretti Cadillac F1 Might Be The Next Biggest Team Bid Grid
It's about to get big for potential bidders interested in joining the FIA's expression of Interest process on the F1 Team. After many moments of suspense, the bidders can't wait to finally find out their fate as Andretti, the son of a former F1 driver, announced that the FIA has indicated that it would finally decide whether or not to allow new Formula 1 team by early September.
Andretti, the son of a 1978 world champion, is the biggest bidder of several bids of prospective teams earnestly hoping to join the ultimate sport.
It was reported that the FIA president Mohammed Ben Sulayem had revealed his wish to embrace all-American and Chinese teams into the grid. He also gave a promising word for the hopeful team, saying, "How can I possibly say no to General Motors?"
However, the process of expressing Interest is still ongoing with the FIA and Formula One Council. Any new team planning to join the F1 is deemed to pay $200 million as an anti-dilution fee.
The purpose of the fee is to protect the current 10 squads from the risk of losing earnings under the new economic revenue structures, as earnings for the present teams could fall with new teams joining the squad. With two new teams joining the squad, the profit of the present team might fall by 16 per cent.
The project was first proposed in the 2022 Miami Grand Prix, he tried to foyer team bosses when McLaren's Zak Brown and then-Alpine boss Otmar Szafnauer vowed to back the bid, but the other eight and the F1 squad told Andretti to trash the plan, they told him they might reconsider if he comes back with an OEM. Andretti did exactly what was told, and he came back with a surprising one - General Motors (GM).
GM thrived and was able to shift over six million vehicles a year, together with Chevrolet, Buick, and GMC among the several divisions. However, Andretti's bid was further backed up by GM for Cadillac to enter as a partner.
Following the official announcement in January, FIA president Mohammed ben Sulayem was pleased to accept the bid. However, reception from F1 and its existing squads was indifferent and lukewarm compared.
Andretti's Suspense Is Heightened
In an interview with Andretti, he said his team had done all that FIA and F1 required and anticipated a favorable response.
"... we are in a waiting situation, but we should know how things will be in a short time.
... We're just following the process and trying to meet all requirements," Andretti exclusively told RacingNews365 of the hoped-for 2025 entry.
"Although there is no specific time or date, we have been told to expect a decision by early September. Our first target was 2024, but the delayed process dragged the plan and 2025 looks more feasible, and we are actively working towards it."
"This is something we've been working on, and strongly believe that it is worth it."