If Andretti Autosport is serious about entering Formula 1, the American team may have to fork over a major fee.
The 10 existing F1 teams want to triple the “anti-dilution” fee to enter F1 up to at least $600 million, Motorsport.com reported this week.
Last year team owner Michael Andretti filed an application to enter an Andretti Global team into F1 in 2024. Andretti partnered with General Motors last month and formally announced their intent to compete under the Cadillac brand, reportedly eyeing an entry as early as 2025.
The F1 field consists of 10 teams and 20 cars in each grand prix. The current anti-dilution fee would pay $20 million to each existing team to offset potential losses of allowing more competition into the prestigious circuit.
If F1 raises the fee and Andretti balks, the group could resume efforts to purchase an existing team instead. Sauber and others had turned Andretti down when approached.
There is currently no American team in F1, though the sport has boomed in popularity in the U.S. in recent years and grand prix have been added in Las Vegas and Miami, joining the existing one in Austin, Texas. Andretti said in last month’s announcement that it would endeavor to sign at least one American driver if it succeeds in entering F1.
Andretti currently competes in IndyCar, Formula E and other open-wheel competitions.
–Field Level Media
Menu
