Mario and Michael Andretti want to bring 'Andretti Global' team to grid in 2024; The plan is for the team to have American drivers and an American-built car, although other teams say there has to be a change to the prize fund structure to agree to an 11th team
Thursday 12 May 2022 17:28, UK
Ex-Formula 1 world champion Mario Andretti insists "all the ingredients are in place" to bring his legendary motorsport name to the grid for 2024, although the current teams are wary of accepting an 11th outfit amid budget concerns.
Andretti and son Michael, who is also a former F1 driver, have run hugely successful single-seater teams in the United States and have long been trying to launch 'Andretti Global' in F1.
Andretti, who attempted to buy the Sauber organisation last year, have submitted their FIA paperwork in a bid to get onto the grid in 2024, and at last weekend's Miami GP were seen lobbying with teams in the paddock.
"I can tell you one thing, it's not for the lack of trying," Mario Andretti, 82, told Sky Sports F1 in Miami when asked about his attempts.
"We're on it, no question about it.
"There's a process that we're respecting and we're trying to check all the boxes we're expected to be checking and the objective is to be there, to be on the grid in 2024. We have a big, huge team that can make this happen.
"Time is of the essence, no question, but I think all the ingredients are in place."
He also insisted that Andretti "100 per cent have the budget and engine supplier", which is believed to be Renault.
The last newcomer to the grid were Haas in 2016, while F1 has had only 10 teams since Manor collapsed in 2017.
Andretti's plan is for the team to have American drivers and an American-built car, more American than F1's existing US presence.
Haas is owned by American Gene Haas and is headquartered in North Carolina. The outfit is the sister team of NASCAR's Stewart-Haas Racing but has no American racer and uses a car built in Italy by Dallara. British-based Williams is owned by US-based private investment firm Dorilton Capital.
With none of the 10 franchises up for sale, Andretti has to persuade the sport to allow an 11th team.
The problem with that for the current teams is that they currently split the prize fund among the 10 entries, and so an 11th team - without a change in the structure - would essentially be costing them money,
"It makes total logical sense to say that the 10 teams or 10 franchises have an intrinsic value and you dilute that by increasing the number," said Red Bull principal Christian Horner.
Mercedes boss Toto Wolff said Andretti would have to bring in additional value as well as paying a $200m entry fee.
"If one is able to demonstrate that, then we should all be sitting on the table, and cheer for such an entry. But that hasn't been demonstrated yet," he said.
"The value of Formula 1 is that it's a limited amount of franchises. And we don't want to dilute that value by just adding teams."
Horner said Liberty Media could reduce their own share if they wanted more teams, but Mclaren boss Zakk Brown had no doubts Andretti would bring extra value.
"The Andretti name has a huge history, in Formula One, in various forms of motor sport, and I think would add a lot of value," he said.
"A very credible racing team with a credible brand, with the right resources, I think is additive to the sport. And that appears to be what Michael has put together. So, on that basis, we are supportive."
"What I feel we have presented we are bringing to the table, I think should be palatable," added Andretti. "The teams have some say on it, for sure.
"There's going to be a huge investment that should be welcomed into any company and for the long term, that's all we want.
"We don't have any outside interests. This is the pinnacle of the sport - the Olympics of motorsport - and Michael wants to be part of it, and I'm proud of that."
