P1racenews AI automatic summary:
Andretti facing biggest hurdle in F1 entry bid
Andretti Formula Racing LLC has successfully passed the comprehensive application process and has been accepted by the FIA to join Formula 1. They have moved on to Phase 3, which involves negotiating commercial terms with Formula 1. The FIA has confirmed that Andretti meets all the necessary criteria to proceed. However, F1’s response to the announcement has been lukewarm, stating that they will conduct their own assessment of the application. The biggest hurdle Andretti faces is the financial aspect, as F1 takes care of the financial issues. Some current teams are opposed to the addition of an 11th team on the grid, arguing that they have worked hard to help F1 grow and should reap the rewards, while new teams could benefit without the same level of effort. It is required for prospective new teams to pay a $200 million ant-dilution fee to offset the potential losses of the existing teams.
Source: RacingNews 365
