P1racenews AI automatic summary:
F1 team bosses remain wary over potential Andretti entry
Andretti, a renowned name in the motorsport world, has been striving to enter the Formula 1 grid ever since the sport’s immense growth in the United States. Despite their failed attempt to acquire Sauber in 2021, they have now partnered with Cadillac in January 2023 in their pursuit of joining the paddock. However, representatives from the current 10 teams on the grid have long opposed the addition of an 11th competitor, citing concerns over the $200 million entry fee and the team’s potential value to the sport. Rumors circulating in the paddock suggest that Andretti is nearing approval from the FIA to move forward with their plans, which has sparked discussions among key figures in Formula 1 about the importance of making the right decisions collectively to protect the sport’s growth. The recent release of the Netflix series “Formula 1: Drive to Survive” has also influenced the perception of the sport’s value and the impact it has on team entries. Trust has been put in F1 officials, such as FIA president Mohammed Ben Sulayem and Formula 1 CEO Stefano Domenicali, to handle the situation in the best interest of the sport. The market for F1 teams has evolved significantly in recent years, with teams now worth considerably more than they were in the past, affecting discussions surrounding matters like the Concorde Agreement.
Source: Crash
