Emerging new F1 team: “money not a problem”

Will there soon be an eleventh racing team in Formula 1? If Michael Andretti has his way, then yes and he is fighting to finally get his own team on the grid claiming that there’s no shortage of will, or cash.

In his efforts to get approval for a new Formula 1 team, world champion son Michael Andretti is keeping up the pressure. He has spoken to the owners of the racing series and suggested a bidding competition, the US racing team owner told the AP news agency.


“We’ll beat anybody,” the former racing driver and son of former Formula One champion Mario Andretti assured. He said his project for a new team had strong backers. “Money is not a problem,” Andretti affirmed.

According to the 59-year-old, he had already submitted an application to FIA, the world governing body for motor sport, in February for a start in the 2024 season. Previously, he had tried in vain to take over the Swiss Sauber racing team, which currently races in Formula 1 under the name Alfa Romeo.

Ten teams currently compete in motorsport’s so called pinnacle. The most recent addition was the US racing team Haas in 2016. According to reports, there is resistance from the ranks of the teams against further participants because they would reduce the share of each racing team in the revenues of the racing series.




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