Jhere could be a new team in Formula 1 in 2024, as the Andretti family have applied for FIA to become the 11th team on the grid.
Mario Andrettiwas F1 world champion in 1978, has revealed that his 59-year-old son, Michael, will lead this ambitious project.
“Michael has applied to the FIA to field a new F1 team from 2024”, Mario Andretti confirmed on Twitter.
Its entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA’s decision.”
Michael Andretti manages teams in various motorsport leagues, such as IndyCar, Formula E, Extreme E, IMSA, IndyLights, SuperCars and SuperCup.
In fact, last year he negotiated with Sauber take charge Alfa Romeo. However, that didn’t work out and he has now decided to start his own project.
The financial obstacle
The main obstacle for the FIA giving the green light to this project is the financial side of things, since there is an entry fee of nearly 200 million euros.
While the FIAnow led by Mohammad bin Sulayemdo not seem favorable to the addition of additional teams, the American company Freedom Media may be attracted to the idea of having another American team on the grid.
Should Andrettithe team eventually arrives at F1 2024 will be the first time a new team has entered the sport since Haas in 2016.