Formula 1 rejected Andretti Global's application to join the F1 racing grid in either 2025 or 2026. However, Formula One stated on Wednesday that it will reevaluate the issue in 2028, in line with the availability of engines for competition from General Motors. Michael Andretti and General Motors' (under the Cadillac name) attempt to join the premier racing series encountered strong resistance from most of the current ten teams and F1 management.
In November, GM revealed that it has registered with the governing body of Formula One to become an engine supplier beginning in 2028, which caused complications. This was a problem for Formula One because it was hard to turn down one of the biggest car companies in the world, particularly one based in the United States when the sport was becoming very popular there.
It took F1 six months to complete its review, even though the FIA had already approved Andretti's application to add two cars to the grid in July.
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Formula One's main problem since Liberty Media took over in 2017 has been the requirement that a new team prove it can contribute value, which might lead to the destabilisation of the 10-team structure and a reduction in the prize fund.
After a comprehensive business analysis, F1 said that Andretti had not shown enough advantages to justify the risks and drawbacks. In addition, Formula One had doubts about Andretti's qualifications and competitiveness to participate in the premier racing series.
The family patriarch and 1978 Formula One World Champion, Mario Andretti, took to social media: "I'm devastated. I won't say anything else because I can't find any other words besides devastated."
F1: Door Open for 2028
For the time being, Andretti will not be able to pursue his dream of entering Formula 1. But in a lengthy statement explaining why Formula One Management (FOM) thought Andretti wasn't good enough for a grid seat next year, it was stressed that the team could be able to get the eleventh spot starting in 2028.
After receiving a statement of interest from Andretti in October, the FIA announced that it was satisfied with his technical ability. However, in order to be approved to compete, Andretti had to finalise a commercial arrangement with Liberty Media, the owner of Formula One, as per the Concorde Agreement's requirements for new teams.
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Importantly, current members will get a portion of the proceeds from an anti-dilution fund that all new participants are required to pay into. To make up for the money that existing teams lost out on when they had to split the pot with a new organisation, the most recent Concorde Agreement included this clause. The teams, however, are now demanding a threefold increase, claiming that the $200 million fee set for this fund is inadequate.
An entry for 2028 would fall under the subsequent Concorde Agreement, which is likely to reflect this proposed revision. So, compared to entering the 2025 season, Andretti or any potential new team would have to pay three times as much.
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