Formula One could be set for a new American team after Cadillac and Andretti announced their intention to join the grid.
Cadillac, a division of American motoring giant General Motors, and the Andretti racing outfit owned by former Formula One driver Michael Andretti, son of 1978 world champion Mario Andretti, have teamed up to form Andretti Cadillac.
Their move to become the grid’s 11th team comes just days after International Automobile Federation (FIA) president Mohammed ben Sulayem called for more entries in F1.
It is understood Andretti Cadillac would not join the sport until 2026 at the earliest, with Formula One and its governing body, the FIA, yet to approve their perspective bid.
The team would be based in Indiana with a support facility in the UK.
-
F1’s calendar, Nascar’s next TV deal and Formula E’s new era: The BlackBook’s 2023 predictions
-
Why 2023 heralds a new dawn in F1’s quest for world domination
“We are continuing to grow Andretti Global and its family of racing teams and always have our eyes on what’s next,” said Michael Andretti.
“I feel that we are well suited to be a new team for Formula One and can bring value to the series and our partners, and excitement for the fans.
“I’m proud to have GM and Cadillac alongside us as we pursue this goal. GM and Andretti share a legacy born out of the love of racing.
“We now have the opportunity to combine our motorsport passions and dedication to innovation to build a true American F1 bid.
“Together, we will continue to follow procedures and steps put forth by the FIA during the evaluation process.
“In the meantime, we continue to optimistically prepare should we be fortunate enough to have Andretti Cadillac formally approved as a Formula One contender.”
Formula One's presence in the United States has increased dramatically in recent seasons following the success of the sport’s Netflix series, Drive to Survive, as well as the growing number of races in America. Las Vegas will join Miami and Austin on the calendar this year.
A Formula One spokesperson said: “There is great interest in the F1 project at this time with a number of conversations continuing that are not as visible as others.
“We all want to ensure the championship remains credible and stable and any new entrant request will be assessed on criteria to meet those objectives by all the relevant stakeholders.
“Any new entrant request requires the agreement of both F1 and the FIA.”
BlackBook says…
Andretti has faced numerous obstacles in its attempts to be recognised as a legitimate future entry to Formula One.
The existing teams are not sold on the idea of giving up revenue to a new team, even with the US$200 million dilution fee that a new entrant would have to pay. The prevalent feeling among teams is that, with Formula One's boom in popularity, this number is now not reflective of the value of the series having been originally set back in 2019.
One complaint that has permeated Andretti's efforts to enter Formula One is the fact it is not a manufacturer. Chief executive Stefano Domenicali said the likes of Audi and Porsche entering the series adds credibility, whereas Mercedes team principal Toto Wolff has pointed out that an OEM would be a completely different value proposition to Andretti.
With General Motors now on board through Cadillac, this is a combination that Formula One cannot now ignore. The prospect of a new team and a new engine supplier, both of whom are American, is exactly what the series needs as it continues to expand in the US. Whether the teams can look at the big picture, however, is something the FIA cannot account for.