P1racenews AI automatic summary:
FIA to reject three applications for new F1 teams
Michael Andretti’s team, backed by Cadillac, is the top contender among those who responded to the FIA’s request for submissions for a new F1 team. F2 teams Hitech and Rodin Carlin, as well as Asian start-up LKYSUNZ, also submitted applications, but it appears only Andretti’s bid has reached the final stage. Formula 1 has the final say on admitting a new team to the grid and has expressed that only teams providing additional value will be considered. Existing teams are not enthusiastic about Andretti joining, as they believe the current dilution fee is inadequate compensation. LKYSUNZ, Hitech, and Rodin Carlin have reportedly been informed that their submissions were insufficient. The reasons for their rejection are unknown at this time.
Source: motorsport
