Andretti Global has been approved to progress to the next stage of the selection process to enter F1.
A statement by the FIA, the world’s motorsport governing body, announced that the American effort had satisfied its extensive criteria in the first two phases of the process.
Andretti Formula Racing, as the entity that applied is known, was the only one of four candidates to progress, meaning the end of the line has been reached for Hitech, Lkysunz, and Rodin Cars, which revealed it was denied a Formula 1 entry last week.
“Following the conclusion of a comprehensive application process for prospective teams seeking to participate at a competitive level in the FIA Formula One World Championship, the Fédération Internationale de l’Automobile has concluded that the application by Andretti Formula Racing LLC should progress to the next stage,” the FIA statement announced.
“Andretti Formula Racing LLC was the only candidate to meet the stringent criteria that was set by the FIA in all material respects from the four teams which lodged formal applications in Phase 2 of the process.
“The initial call for Expressions of Interest (Phase 1) attracted numerous enquiries which resulted in four progressing to Phase 2.
“Following the call for Expressions Of Interest in February, the FIA has applied a robust process of due diligence during which the applicants were assessed on the sporting and technical ability, the ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level and the team’s experience and human resources.
“Selection criteria also included sustainability management in line with the FIA’s ambition of achieving the sport’s goals for net-zero by 2030.
“Any prospective F1 team was also required to illustrate how they intend to achieve a positive societal impact through its participation in the sport.
“As part of the agreed process of the Expressions Of Interest protocol, the FIA findings on Andretti Formula Racing LLC’s submission will now be passed to Formula One Management (FOM) for commercial discussions.”
Entry into Formula 1 is not straightforward with sporting and commercial considerations.
The FIA manages the former and the sport’s commercial rights holder, Liberty Media, manages the latter.
On a commercial front, chief among considerations is the fabled Concorde Agreement, the deal between the teams and F1 committing them to compete in exchange for benefits such as prize money.
Following the FIA’s announcement, a short statement from F1, received by Speedcafe, stated: “We note the FIA’s conclusions in relation to the first and second phases of their process and will now conduct our own assessment of the merits of the remaining application.”
Formula 1 is in a strong position with teams enjoying better financial health than at any point in the sport’s history.
Ringfencing is therefore the priority above allowing new applicants to enter, with the assessment poised to analyse Andretti’s potential contribution to the sport’s financial position in the short and long terms.
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