One big challenge that any 11th team would face is a $200m entry fee incorporated in the current Concorde Agreement, and which is a “dilution fund” designed to protect the value of the 10 current teams. One of Andretti’s own Ind圜ar sponsors, Gainbridge, is also a backer of the Miami GP.Īlthough his father indicates that Andretti has applied to F1's governing body the FIA, no formal entry process appears to be open at the moment, and it’s not clear what the procedure would be. Several teams have attracted US investors in the past two years, notably McLaren and Williams, while American tech giants have been coming into the sport, such as Cognizant at Aston Martin and Oracle at Red Bull.

Sources suggest that a headhunting organisation has already been talking to F1 personnel about an unnamed project that would start in 2024.Īndretti will potentially be able to benefit from the huge boost to interest in F1 in the USA provided by the Netflix Drive to Survive series, and by the addition of a second US race with the Miami Grand Prix joining the 2022 calendar.Ī third US race in Las Vegas is also on the horizon, while on Friday F1 confirmed that the US GP will stay in Austin for a further five years. With the new Concorde Agreement in place and the cost cap now introduced, all 10 existing F1 teams are currently in good financial health, and thus there are no longer any bargains to be had for potential purchasers, with 'franchise' values rising.Īndretti now appears to have decided instead to pursue his own project and start from scratch. Last year the younger Andretti was in talks to buy the Alfa Romeo team and the Sauber company behind it, but he was left frustrated when main shareholder Finn Rausing ultimately opted not to sell. PLUS: How F1 made itself unattractive to new teams “His entry, Andretti Global, has the resources and checks every box.

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