Andretti’s F1 entry bid is expected to receive a significant boost after General Motors announced on Tuesday that it has registered with the FIA to become an engine supplier starting 2028.
A pre-contract arrangement to provide customer engines to Andretti’s future F1 team has now expired, according to Alpine.
According to reports, Andretti is “close” to receiving FIA approval to enter the Formula 1 grid, but other significant players are bound to object.
Marcus Ericsson will join Andretti Autosport for the 2024 IndyCar season, the team announced on Wednesday.
Aston Martin reserve driver Felipe Drugovich is reported to be considering a move to Formula E, according to Andretti driver Jake Dennis.
Nick Chester, a former technical director for Renault, is reported to have joined Andretti F1 project after leaving McLaren’s Formula E team to serve as the technical director.
Formula 1 CEO Stefano Domenicali maintains that the sport does not require any new teams, which calls into question Michael Andretti’s efforts to secure a Formula 1 entry.
Only an American outfit like Andretti can open the door for American drivers in Formula 1.
McLaren boss Zak Brown has aired his views on the expansion of the Formula One grid and how others do not share his viewpoint.
The $200 million cost that new entrants must pay to enter Formula 1 may need to be increased, according to Red Bull team principal Christian Horner.
Renault CEO Luca de Meo acknowledged that conversations about supplying engines to the upcoming ‘Andretti Global’ team are underway.
Michael Andretti says he was hours away from agreeing a deal to take over the Alfa Romeo Formula 1 team before talks fell apart. The IndyCar champion and team boss insisted the deal with Sauber, which runs the Alfa Romeo-branded team, had not collapsed due to financial reasons. Andretti said questions over the extent of control he would enjoy over the team were not satisfactorily addressed.“Don’t believe the rumours you were hearing about why it didn’t happen,” he said. “It had nothing to do with financial or anything like that. “It was more having to do with control issues. Unfortunately at the 11th hour control issues changed and it was a deal we had to step away from because we couldn’t accept it. “I always said that we’re only going to do it if it’s right for us and in the end it wasn’t right for us.” Although Andretti believes F1 owners Liberty Media would welcome a second American team in the sport, he said they hadn’t acted to facilitate a deal. “I think they would like it, obviously, because they’re really pushing the American market,” he said. “But they weren’t doing anything to help us.” “It would have been a huge story,” added Andretti, who previously tried to buy the Force India F1 team in 2018 and had talks with Haas. “It’s a shame it didn’t work out but I don’t give up.” Had Andretti’s takeover of Alfa Romeo gone ahead he intended to place IndyCar driver Colton Herta in F1, despite his lack of a superlicence for the 2022 season. “Obviously if we ever do get a team he would lead the way for us in terms of wanting to bring an American driver,” said Andretti. “He would be the perfect guy to do it. “We definitely were going to get him into the seat because I believe he could definitely be a competitive driver in Europe, I really do, there’s no reason why.”
Andretti Autosport has reportedly walked away from a deal to take a majority interest in Sauber, a move that has likely brought an end to the American motorsport enterprise’s ambitions of entering F1, at least in the near term. According to a report from The Race, Andretti was set to acquire an 80% stake in Islero Investments, the entity owned by Swedish Billionaire Finn Rausing which owns Sauber Motorsport and its prime asset, the Alfa Romeo F1 team. The two parties had apparently agreed on a purchase price for the 80% holding in Islero. However, Rausing also reportedly sought a five-year $50m-a-year payment to guarantee Sauber’s presence on the grid in F1 to counter any potential future shortfall in sponsorship. It is believed that Andretti baulked at the latter demand which came late in the day during the negotiations between the two parties. The condition suddenly put an unrealistic and stratospheric valuation on the Swiss outfit as far as Andretti was concerned. It is also believed that Rausing is not a motivated seller, and perfectly content with Islero Investments holding on to its Sauber asset given Formula 1’s bullish prospects for the future and how the value of its franchises are likely to increase. Following Alfa Romeo’s signing of Valtteri Bottas from Mercedes, IndyCar star Colton Herta had been speculatively linked to the second seat as part of a deal with Andretti – despite lacking the required superlicence points. With the move collapsing, Alfa Romeo could now pursue Alpine-backed F2 driver Guanyu Zhou, who is understood to be strongly supported financially.
Haas Formula 1 team boss Guenther Steiner has given a hint that there were talks between the team and Michael Andretti on a possible takeover but insists that the talks were not as ‘concrete’ as the rumors state they are. According to reliable media sources, Andretti is believed to have plans to buy major shares in Sauber which have him take control of the Alfa Romeo F1 team. The tycoon, who was a former McLaren driver is said to be looking for an 80 per cent share of Islero Investments which was set up by the Longbow Finance group that acquired the team from founder and then co-owner Peter Sauber. The move would provide a second American-owned entry on the F1 grid alongside Haas and asked if Andretti had held talks over acquiring a stake in the team, Steiner said: “Everybody knows each other in American racing and maybe there were talks but maybe not as concrete as you think they are.” On Andretti’s talks with Sauber, he added: “I don’t know what Michael is doing to be honest. “I spoke with Michael a few times, not lately, but I don’t know what Michael is trying to do.” With the focus on promoting F1’s market in the US providing a second race Stateside in Miami next year, being an American-owned team will bring a more intense spotlight. WIth the potential of Haas losing that exclusivity if Andretti completes the takeover of Sauber, Steiner was adamant his team did not see any threat to the job it has been doing. “I don’t see anybody as a threat,” he said. “We have no issue with that one wherever the team is from. But I think what we didn’t do, we didn’t exploit the American market, the sponsorship market as much as we should have because otherwise we would have more American on the car. “But there seems to be a lot of this that everything needs to be American all of a sudden and everything sounds to be focussed on America. But I think there is other countries as well and for sure, because Austin is now on, there is a lot of focus on it. “But there hasn’t been anyone knocking on our door with a big sponsorship deal and saying because we are American, this is what we are going to do or this is why we are going to support an American driver. “There is no magic in this game and whatever happens, there will be not a lot of change. “There is a lot of talk at the moment but we need to walk now.”
