“So, there are a lot of things in play here. Also, there is no official team that is fielding Formula 3 or Formula 2 and Michael has committed to having a Formula 3 and a Formula 2 team to give some American driver the opportunity to go to Europe and pursue Formula 1. Michael has committed to having at least one American driver always. “I know Gene Haas has a team and he never planned on having an American driver. “Let’s face it, as international as Formula 1 is to have a truly, solid American team and manufacturer, it’s got to be good for them,” the elder Andretti said.
Andretti F1 Bid Gaining Momentum Thanks to GM. Mario Andretti believes General Motors entrance into Formula 1 would be a “wonderful thing for motor racing.” Michael Andretti wants to bring General Motors to Formula 1 with its Cadillac brand. A decision on whether any new Formula 1 teams will be allowed is expected this summer. The FIA, Formula 1’s governing body, has opened an application process for prospective new teams, but most of the existing Formula 1 operations have been resistant to new teams due to the impact it would have on their share of the prize money. Three months ago, Formula 1 CEO Stefano Domenicali said Michael Andretti was “not smart” when he labeled the current teams greedy over their desire to protect their financial interests. When asked if it was going to happen, he replied, “It better.” It’s going,” Andretti said initially when asked at Darlington (S.C.) Raceway on Friday. "It makes total logical sense to say that the 10 teams or 10 franchises have an intrinsic value and you dilute that by increasing the number," said Red Bull principal Christian Horner.Mario Andretti initially had only a few words when asked how his son Michael Andretti’s efforts to field a Formula 1 team were progressing, but his frustration with the process became more apparent as he talked. The problem with that for the current teams is that they currently split the prize fund among the 10 entries, and so an 11th team - without a change in the structure - would essentially be costing them money, With none of the 10 franchises up for sale, Andretti has to persuade the sport to allow an 11th team. What's the issue with F1 adding 11th team? British-based Williams is owned by US-based private investment firm Dorilton Capital. The outfit is the sister team of NASCAR's Stewart-Haas Racing but has no American racer and uses a car built in Italy by Dallara. Haas is owned by American Gene Haas and is headquartered in North Carolina. Ted Kravitz takes a look back at the inaugural Miami GPĪndretti's plan is for the team to have American drivers and an American-built car, more American than F1's existing US presence.
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