Michael Andretti’s operation, Andretti Global, is the last remaining contender to become a Formula 1 team, Motorsport-Total.com reported.
F1 did not comment Friday on the report, which said that three other teams that submitted applications and reached the final stage were rejected. Those teams are Hitech and Rodin Carlin from F2 and start-up LKYSUNZ.
The FIA selection process does not guarantee expansion from the 10 existing teams, which race 20 cars in each grand prix. The bidders face a $200 million “anti-dilution” fee that existing teams want to triple to at least $600 million.
LKYSUNZ, with financial support from a new American investor, announced Friday in a press release that it was prepared to pay the higher fee.
“We are still in dialogue with the FIA,” LKYSUNZ CEO Benjamin Durand said. “But I can’t go into details at the moment because we are bound by an NDA which we respect.”
The bidding teams must show sufficient financial resources as well as how they will be environmentally sustainable in order to meet the requirement of net zero CO2 emissions by 2030. The applicants also had to address social issues such as more diversity in racing staff.
Andretti filed an application in 2022 to enter an Andretti Global team into F1 in 2024. Andretti partnered with General Motors in January and formally announced their intent to compete under the Cadillac brand, reportedly eyeing an entry as early as 2025.
There is currently no American team in F1. Andretti planned 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