Michael Andretti Wants To Join F1—And Best of Luck With That
Michael Andretti has made a bid to join F1 in 2024. How much does this cost, and how likely is he to be successful?
Written by Alex Reale
Reviewed by Kathleen Flear
Table of Contents
Formula 1 racing has enthralled viewers since its official start in 1950.
Initially a European affair, it has since morphed into an international sensation, with supporters from around the world rooting on their favorite drivers and teams. The F1 team landscape of 2022 is still largely European, with the exception of American entrant Haas.
One
legendary
American racer is looking to change that. Michael Andretti has made his bid to join F1 in 2024.An exclusive club
The air of Formula 1 racing is, by design, rarified. An elite group of racers, comprising 10 teams, competes in grand prix around the world, with a winner crowned at the end of each season.
Car racing is always an expensive sport, but F1 takes the spending to new heights, with each sponsor throwing down millions of dollars to develop a cutting-edge car and pay the best possible drivers. Top team Red Bull Racing spent $304.84 million in 2019 to participate in F1, reports
Reuters
, and this only got them to third.To earn the right to spend these millions of dollars, you have to go through the arduous process of applying to have a team. Michael Andretti, American racing legend, has decided to start on this path, which is a little like trying to buy a Birkin bag.
First you have to spend millions of dollars, then get approval from the governing body of F1, the FIA, and then get a unanimous vote from the other teams. Only then will you be granted this coveted spot. According to
Autoweek
, Andretti has completed the requisite paperwork to tackle the first hurdle. Let Jerry find your price in only 45 seconds
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Some contrarians
Though the financials are staggering—Andretti just paid $200 million as a kind of cover charge—it’s the club itself that may prove hostile.
Some current team owners are expressing concerns about the addition of another F1 team, noting that dividing a prize pool by 11 is less enticing than dividing it by 10. The team principals of AlphaTauri, Mercedes, and Red Bull Racing ranged in their responses from cagey to tepid about the possibility of another entrant, citing financial as well as qualitative concerns. It’s a bit of a sniffy group.
But not everyone is a naysayer. Autoweek noted that McLaren principal Andrea Seidl welcomed the clout of the Andretti name in racing, which would likely drive interest in F1 in the American market, and therefore increase the overall success of the F1 ecosystem.
And Andretti himself has pointed out that “dilution” will not be a problem, reports
Planet F1
, as he would be bringing even more money to the table, plus opening an even wider door to American support of the sport. Adding F1 more?
Despite the halfhearted reception that Andretti has received from some of the existing F1 teams, the fact remains: his paperwork is in, and his $200 million check has been written.
Plus,
USA Today
reports that he’s already figured out where headquarters will be for Andretti Global (England,) where they’ll be making cars (Indianapolis,) an engine partner (unknown,) and a possible driver (Colton Herta.) It’s too early to tell if he’ll successfully pass all the tests that the FIA has set for him, but it looks like if anyone can do it, it’s Michael Andretti.
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