Michael Andretti has walked back on some of the statements he made about his protracted experience attempting to enter Formula 1.
Andretti has made no secret of his desire to field a team in future but has faced opposition from existing competitors and criticism from the sport’s commercial rights holder.
One of those criticisms centred on a perceived lack of respect from the American after he used the word “greedy”.
“I probably used the wrong word,” Andretti has conceded.
“I shouldn’t have said ‘greed’ but everybody’s been looking out for themselves.
“When I said that, I got criticised, but if I was in their situation, I’d probably do the same thing.
“I don’t blame the teams. They all are going to look at it for themselves because that’s what they need to do to be competitive.
“It’s a very, very expensive sport. There’s a lot involved, and there’s a lot of commitment from every team.
“They’ve got to make sure that they protect that and I understand that’s what they’re trying to do but in the end, they’re not going to be the ones that make the decision.
“It’s going to be up to the series and the FIA to decide if it’s the right individual.”
The FIA has opened an expressions of interest process for prospective teams, with Andretti one of a number to have submitted an application.
Other entitles also understood to have applied are Hitech, Carlin Formula Equal, and LKYSUNZ.
Various criteria have been laid out for applicants, covering financial, technical, and social aspects of running an F1 team.
Sources have suggested that Andretti easily meets all, with technology in some areas more advanced than the current world champions.
There is also strong support from the automotive industry, with General Motors involved in the project through its Cadillac brand.
While on the surface that appears little more than a branding deal, Andretti suggests the relationship is more integrated.
“General Motors is very, very involved,” he said.
“People are trying to say, well, ‘They’re just putting their name on it,’ no, it’s a very, very [integral] part of the whole team.
“I think once everything goes public and people see what we submitted, they’ll see it’s a big [deal].”
Andretti also swatted away suggestions that, rather than battling to join the grid with an all-new team, he should acquire one of the existing operations.
Conversations were had with Sauber to purchase the operation but ultimately fell through.
“We’ve tried — nobody’s interested, nobody’s selling,” Andretti said of buying a team.
“We’ve been to every single team.
“People keep saying, ‘Well, buy a team’ [but] nobody wants to sell. You go there and they’re not even interested in talking. I’ve been there, done that — not happening.”
That reaction speaks to the financial position F1 is currently in, with significant growth in the business and the teams.
Alpine recently sold a stake to investors, including Hollywood actor Ryan Reynolds in a deal that valued the midfield squad at over $900 million.
It’s protecting that value and growth that teams are primarily concerned with, hence their hesitation towards Andretti’s (or any other new team’s) admission to the competition.
The submission deadline elapsed on May 15, pushed back two weeks from its original April 30 date.
Before the extension, a decision on a new team was expected in late June.
No update has been given as to whether that has shifted, though it’s been suggested to Speedcafe that July 15 is a key date – though not necessarily coinciding with a public announcement.
Meanwhile, Andretti remains hopeful that he’ll be on the F1 grid as soon as 2025.
“I think we checked every box you know, but the reality is we’ll just have to wait and see what happens,” he said.
“I think we have everything we need to go in, be competitive, be respectful and add to the series.”
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