After a previous bid to takeover the Sauber-run Alfa Romeo outfit failed, Andretti has reportedly decided to field an independent operation built from the ground up. The new development was confirmed by Mario Andretti in a statement released on Twitter.
Speaking in an interview with Racer soon after the announcement, Andretti Sr., said:
The new outfit — Andretti Global — is reportedly well-funded and has attracted a few “powerful individuals”. During the interview, Andretti refused to name these individuals but felt confident that the new entry would be approved by the FIA.
Meanwhile, according to a clause within the new Concorde agreement, any new F1 team wanting to enter the sport has to pay a $200 million entry fee that was introduced to protect the existing teams’ bottom lines. Andretti Global is reportedly willing to pay up the entry fee.
New F1 team will field at least one driver from the United States
Michael Andretti reportedly intends to field at least one driver from the United States if his new outfit is approved to race in F1 starting in 2024.
According to Mario Andretti, the new outfit ideally wants both its drivers to be from the US. Speaking in an interview with RN365, the American said:
F1 has seen unprecedented growth in the United States in recent years, following Liberty Media’s takeover. In an effort to the capture the increased popularity, FOM has been looking into increase the number of races being held in the country. While the Miami Grand Prix is scheduled to join the existing race in Austin, a third race in Las Vegas is currently under consideration.
Meanwhile, teams such as McLaren and Haas have also shown keen interest in bringing in talent from across the Atlantic.
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