Andretti, who runs several outfits in world motorsports including one of IndyCar's leading teams, has been working on an F1 bid for years and felt he finally had the missing ingredient to sway the sport by partnering with a top-level OEM in General Motors.
But most of F1's existing 10 teams - who have a say in any new team joining - are still hesitant to accept Andretti into the fold as an expansion team, as they would then have share prize money with an 11th team.
