Andretti Motivated for Formula One Team
On Feb. 18, 2022, Mario Andretti, father of Michael Andretti, announced that his son had officially applied for a team slot in F1. However, the FIA had been clear “not currently in a position to consider” new teams for the 2024 season.
Despite these pushbacks, that is not stopping the American Entrepreneur. After the failed attempt last year to buy the Sauber team, Michael Andretti has continued to pursue his efforts to get into F1.
The RACER has confirmed that Andretti would pay the $200 million “anti-dilution” fee. This fee was designed to prevent any new teams from entering. To be willing to pay this amount of money is an insight into how motivated Andretti is. Especially at how confident he is with the decision. Andretti has already announced his lineup of American drivers; Colten Herta and Alexander Rossi.
The last time a new team was allowed on the grid was Haas was in 2016. Currently the only American team in F1. Haas’s process was lengthy, but they came at a time that the FIA was inviting prospective teams. Since then, that same door has not been open.
Currently on the grid stands 10 teams in total. If Andretti is successful, his team would be number 11. However, with the new addition, current teams could be financially hurt. The prize winnings, and the money that F1 gives the teams would be split between 11 teams, instead of 10. The Coronavirus pandemic has already caused many teams to cut expenses to survive. Hence the reason for the anti-dilution fee.
By not permitting any new team at the moment, they are securing the future of current teams to increase their long-time value.
Is this different from the VW brand’s interest to potentially enter F1? Or is it different? Is the FIA being biased towards manufacturers and whom they make deals with?