Formula 1 has had only 10 teams since 2017. Since then, there have been talks of having more teams on the grid. However, with the value of teams skyrocketing, the barrier to entry has become really high. Teams like Ferrari, Mercedes, and Red Bull will always choose their own interests over others. However, fans are now closer than ever to getting their wish. Andretti Cadillac has moved to the final stage of the selection process by the FIA.
The Most Holistic Bid
Formula 1 and all the teams have signed a Concorde Agreement which aims to protect everyone’s interests. However, that has also given the teams tremendous power in decision-making. This means that teams like Mercedes and Ferrari have been able to use their weight and block potential entries.
However, Andretti, through sheer determination, has managed to compile a holistic bid for its entry. Andretti brings a pedigree in motorsport. They bring the money required to participate. They are willing to pay the $200 million as an entry fee to the 10 teams.
Additionally, when questioned about their status as a manufacturer, Andretti got Cadillac and General Motors to back their project. Formula 1 fans know if this team doesn’t get an entry, no other team will.
Rejected Candidates
Formula 1 and the FIA also received bids from teams from Junior Formulas like Hitech and Rodin Carlin. Additionally, an Asian team named LKYSUNZ entered their bid as well. All of these bids, despite being promising, were rejected.
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Not Out of the Woodworks
Fans should hold their celebration for some time. First of all, even the FIA hasn’t officially approved the bid. However, even if they do, it will also have to be approved by Formula 1.
The Formula 1 management have sided with the teams in not wanting to divide the profit into more parts. However, if Andretti has put a great bid with Cadillac, they will be in good stead.
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Haas, with Ferrari engines, was the last new entry to the Formula 1 grid in 2016. People easily forget that the sport has always had more than 10 teams. However, with the increase in the profitability of a Formula 1 team, the existing teams will make the entry for an 11th team as tough as possible.
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