A new Formula 1 team has been approved by the FIA. Andretti, a US-based team with General Motors’ Cadillac brand, saw their application approved.
Four teams entered into the second phase of the new teams process. Only Andretti were given the seal of approval.
On the Andretti application, the FIA said:
“The FIA was very clear in establishing stringent criteria for entry from the outset of the expressions of interest procedure.
“Our objective, after rigorous due diligence during the application phase, was to only approve prospective entries which satisfied the set criteria and illustrated that they would add value to the sport.
“The FIA is obliged to approve applications that comply with the expressions of interests application requirements and we have adhered to that procedure in deciding that Andretti Formula Racing LLC’s application would proceed to the next stage of the application process.
“Andretti Formula Racing LLC was the only entity which fulfils the selection criteria that was set in all material respects.”
Andretti representatives after the decision said:
“We appreciate the FIA’s rigorous, transparent and complete evaluation process and are incredibly excited to be given the opportunity to compete in such a historic and prestigious championship.
“We look forward to engaging with all of the stakeholders in Formula 1 as we continue our planning to join the grid as soon as possible.”
Even though they’ve passed the FIA stage, they’ll need approval after being by assessed by the rights holders Formula 1 on a commercial basis. They’ll decide whether the team will add value to the Championship as a whole.
There’s no timeframe set for their decision, it’ll likely take a few months of deliberations. However, it’s expected the F1 will reject the Andretti application.
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