Michael Andretti finally heard some good news as his bid in partnership with Cadillac was officially approved by FIA. However, Andretti is not going to become the 11th team in Formula 1 just yet. Andretti and Cadillac now have to convince Formula 1 Management and Liberty Media, the commercial rights holder.
FIA Approves Andretti Bid
The FIA conducted two stages of bidding for potential F1 teams. In the end, Andretti Cadillac was the only team that passed their stringent tests. Now that they have passed both tests, they move their case from the FIA to Formula 1.
The FIA is just the governing body for Formula 1. In the end, the commercial rights holders have to decide whether Andretti Cadillac is worth the bid or not. Michael Andretti will be hoping his team can pass this test too.
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FIA Statement
“The FIA was very clear in establishing stringent criteria for entry from the outset of the Expressions of Interest procedure,” said FIA president Mohammed Ben Sulayem.
“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.”
“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.”
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Formula 1 Management
Michael Andretti will face his sternest test now because, unlike the FIA, Formula 1 has not been entirely open to the idea of a new team. More teams mean more shares. Formula 1 don’t want that unless the team can convince them they will make the pie bigger too.
The response by Formula 1 to FIA’s statement also shows their reluctance. “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.”
If Formula 1 approves Andretti Cadillac, it will be a huge moment for Michael Andretti. Keep following us to remain updated.
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