02 October 2023 , 15:37
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Michael Andretti's dream of creating a new Formula 1 team has moved a step closer after the FIA approved his bid.
Andretti Global was one of just four applicants to reach 'phase two' of the governing body's application process, launched earlier this year. And the American team is now the only prospective entrant still standing following a "comprehensive" analysis process conducted by the FIA over the last few months.
Rodin Cars announced last week that it had been informed by the FIA that its own application had been unsuccessful. Junior formulae team Hitech Grand Prix and Asian start-up LKY SUNZ were the other parties still in the running.
It leaves just the motorsport team owned and operated by former F1 driver Michael Andretti still in contention. The American joined forces with automotive giant General Motors through its Cadillac brand to strengthen its bid which, clearly, was considered too appealing for the FIA to turn down.
"Our objective, after rigorous due diligence during the application phase, was to only approve prospective entries which satisfied the set criteria and illustrated that they would add value to the sport," said FIA president Mohammed ben Sulayem.
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"The FIA is obliged to approve applications that comply with the Expressions of Interests application requirements and we have adhered to that procedure in deciding that Andretti Formula Racing LLC's application would proceed to the next stage of the application process.
"In taking that decision, the FIA is acting in accordance with EU directives on motor sport participation and development. Andretti Formula Racing LLC was the only entity which fulfils the selection criteria that was set in all material respects. I congratulate Michael Andretti and his team on a thorough submission. I also want to thank all prospective teams for their interest and participation."
The decision, however, does not mean that Andretti Formula Racing will be guaranteed a spot on the grid. The matter will now be referred to Formula 1 Management and licence holders Liberty Media who will discuss the commercial impact of approving a new team.
The 10 existing outfits on the grid will also have a say in whether or not a new team should be approved. Alpine are believed to be set to supply engines to Andretti while support may also be given by McLaren given the relationship he has with chief executive Zak Brown, but the other eight are expected to be against the addition of an 11th team.
In a statement, F1 said: "We note the FIA's conclusions in relation to the first and second phases of their process and will now conduct our own assessment of the merits of the remaining application."