Andretti Only One of Four New Potential Groups Awaiting F1 Entry

F1 has gained massive popularity in the last few years. Not only in the United States but also all over the globe. With more fame comes the urge to be a part of the sport. As the talks are on regarding new teams entering the sport, British journalist Joe Saward gives an insight into the whole story.

As of now, F1 has 10 teams in total that comprise 20 drivers. However, talks are on to increase them to 11 or 12 given FIA gives a nod. Interestingly, back in the 1980s or 1990s, it wasn’t uncommon for F1 to even have around 13 teams on the grid, starting the race with 26 drivers.

READ MORE: Andretti Prepares for F1 Entry as FIA Leaves Potential American Team Waiting

Talking about the development, Saward wrote in his blog, “Today there are at least four groups making noises about wanting an entry. There is Andretti, one from Monaco, one based around an existing Formula 2 team, and another that I cannot discuss.”

Can Andretti bring his team F1?

As it stands, FIA is still to show the green flag to anyone. However, Andretti’s entry into the sport seems more realistic given the sport’s growth in the United States and the Andretti family’s connection with the sport (Mario Andretti and Michael Andretti). An entry fee of $200 million will need to be submitted to field the F1 team.

Joe further stated, “The current growth of the sport and the rise in the value of the F1 teams are also leading to chat about the 11th and 12th team slots that exist – in principle – in the commercial agreements of the sport. F1 is quite happy with 10 teams.”

Aside from the $200 million fees, Joe believes that the realistic price of having a team is between $700 million to $1 billion. Moreover, it’s not just about FIA as the governing body must also have thorough discussions with the race promoters and race organizers regarding the paddock and garages.

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The most important segment here is the share of revenues. FIA will also have to have a deep discussion with its stakeholders and its fellow teams to check if allowing the new teams won’t reduce the profit margin. It is believed if the share of revenues reduces with the inclusion of new teams, the already sitting teams might not be happy with the introduction.

Since there is no clear message from either the FIA or F1, it’ll be interesting to see how things follow up in the future. Can Andretti field Andretti Global as the second US team in F1 after Haas? Only time will tell.