Andretti Global and General Motors announced their partnership on Thursday as well as their intent to pursue a Formula One bid under the Cadillac brand, making it an all-American team at this time.
The news comes in wake of FIA president Mohammed Ben Sulayem tweeting he “asked my FIA team to look at launching an Expressions of Interest process for prospective new teams” for F1. This is the first step to extending the grid beyond the current 10 teams.
The plan is for Andretti Cadillac to be based out of the United States but will have a support facility in the U.K. According to the announcement, the team plans to submit the Expression of Interest when the process is opened and has its eyes set on having at least one American driver, if Andretti Cadillac is selected.
“We are continuing to grow Andretti Global and its family of racing teams and always have our eyes on what’s next. I feel very strongly that we are suited to be a new team for Formula One and can bring value to the series and our partners, and excitement for the fans,” Michael Andretti, Chairman and CEO of Andretti Global, said in a statement. “I’m proud to have GM and Cadillac alongside us as we pursue this goal. GM and Andretti share a legacy born out of the love of racing. We now have the opportunity to combine our motorsport passions and dedication to innovation to build a true American F1 bid.
“Together, we will continue to follow procedures and steps put forth by the FIA during the evaluation process. In the meantime, we continue to optimistically prepare should we be fortunate enough to have Andretti Cadillac formally approved as a Formula One contender.”
Andretti teams currently compete in seven motorsport series, and the last time Andretti and GM joined forces was returning Chevrolet to IndyCar in 2012.
There were mixed responses on the grid during the 2022 campaign about expanding the grid with Alpine and McLaren agreeing with Andretti’s pursuit while others were more hesitant and raised questions about the commercial benefit. The Concord Agreement currently states the teams split their portion of the sport’s revenue. Thus, there is a $200 million entry fee.
Formula One’s popularity has boomed in recent years, particularly within the U.S. between Netflix’s Formula 1: Drive to Survive and the rise of TikTok, Twitch and the content creator economy. There are three U.S.-based races slated for 2023 in Miami, Austin and Las Vegas, the latest to join the schedule. And, there’s now an American driver—Logan Sargeant with Williams.
