F1: Green light for team now ‘really close’ – Andretti (Update)

While Mario Andretti has said that the new Andretti Global headquarters will be larger than Ferrari’s, that does not take into account that the Andretti Global facility has to house its IndyCar, Indy NXT, Formula E, Extreme E teams, and if they are lucky enough to gain FIA approval, their F1 team. Plus they want to also house a future NASCAR and Sportscar program.

Hence, when you look at how many square feet will be dedicated to just the F1 program, it is not more than Ferrari F1.

Andretti Global will need a 2nd facility in Europe, and depending on the size of that, they could be larger than Ferrari.

But size does not matter to the FIA. What Andretti brings to the table will matter.  If they team with Dallara (with Aldo Costa as Chief designer of the Chassis and the mechanicals) and Honda (keeping Honda in F1 as an engine supplier is what the FIA wants to see) then their approval shall come. (See related rumor)

They were hoping for a Christmas surprise, but with only 4 days until Christmas, it appears nothing will happen until after New Years, if it happens at all.

December 14, 2022 

(GMM) Michael Andretti is hoping the green light for his Formula 1 team aspirations will be “a nice Christmas present”.

It is well known that the former McLaren driver, who now heads a US-based motor racing empire including a top IndyCar team, is trying to convince F1, the FIA and the existing teams to approve an 11th team entry.

It would be financed in part by Group 1001 – a financial services company that already sponsors Andretti’s IndyCar team via the Gainbridge brand.

Group 1001 CEO Dan Towriss played down rumors that Formula 1 as a block is opposed to Andretti’s team debut.

Breaking ground at the new Andretti Global facility, from left, Michael Andretti, Daniel Towriss (CEO of Group1001 who is helping to finance much of the deal), Mario Andretti and Marissa Andretti – VP of Andretti Autosport and Managing Director, Andretti Technologies

“I think a lot of times, the quotes that get pulled out don’t really tell the full story,” he told the Indy Star newspaper.

“There’s a lot of conversations going on, and we’re not trying to get out in front of anything or use the media as a tool to influence anything. They have an expectation on approach and decorum that people should take in dealing with them, and we respect that.”

Also involved in Andretti’s F1 bid is Guggenheim, owner of the LA Dodgers baseball team, which is said to be backing the new Andretti factory and willing to pay the $200 million entry fee.

The green light from Formula 1, therefore, may now be looming.

“We’re hoping in the next couple weeks,” Michael Andretti said. “That would sure be a nice Christmas present.”

He also revealed that even after team owner Dietrich Mateschitz’s recent death, the Alpha Tauri team is definitely “not interested” in selling its team entry to Andretti.

“But we’re working every day,” said the 60-year-old, whose father Mario was F1’s 1978 world champion.

“I’m still confident,” Andretti added. “We’re getting close. We haven’t gotten the ok yet, but we’re getting really close.

“We want to do something that’s never been done before. We want to be in all forms of auto racing, from Le Mans to Monaco to the Indy 500 and the Daytona 500.”