F1 News
'Andretti team can add more value to Formula 1'
- GPblog.com
For the first time since Haas F1 in 2016, a new team has serious interest in joining Formula 1. Andretti Global hopes to be on the grid from 2024, but so far it dosn't look like there's much movement from the FIA or F1. McLaren on the other hand are happy to welcome the American motorsport giant.
Brown sees Andretti coming
On Friday, February 18, news emerged that Michael Andretti has submitted an application to the FIA to enter Formula 1 with a new F1 team starting in 2024. So far, the application has yielded little result, as the FIA is not looking for new teams.
McLaren and, in particular, CEO Zak Brown are cheering the arrival of Andretti at The Race. When a new team enters Formula 1, all the existing teams will get a little less of the shared prize money, but this does not have to be a problem according to Brown. In fact, the American thinks that Andretti is making such an impact that the value of Formula 1, in general, will increase. As a result, teams will have a smaller percentage of the prize money, but the total prize pool will be larger.
Andretti helps with sponsors and fans
"Does he help us get a better TV contract? Does he help bring more awareness with sponsors from America? My view is he covers the first couple of years then by the time you’re potentially being diluted I think he will have added more value than he’s diluted," Brown says.
In addition, Bron thinks most fans will welcome an eleventh team on the grid. Andretti already has a large number of fans with its IndyCar team, and he expects that there will only be more when the American team enters Formula 1.