Andretti recently announced that he was in talks with the FIA to negotiate his arrival in Formula 1 in 2024, after his attempt to buy Sauber /Alfa Romeo last year fell through.
Under the latest Pact of Concord , any team that wants to enter the category will have to pay an entry fee of nearly €200m, designed as an “anti-dilution” measure to compensate existing teams for their possible loss of income. .
While Wolff acknowledged the potential value of the Andretti name to the sport, he acknowledged that they, too, will have to meet all the necessary criteria required by the FIA and the F1 organization, financial and otherwise.
“Andretti is a great name,” Toto Wolff said. “And the US market is important, but every team that joins has to add value to the competition.”
“And it’s not just by paying an entry fee of almost €200m, but in my opinion he has to show what he can do for the other teams, for Formula 1 and the FIA. Only then will the sport will grow”.
“We are the absolute pinnacle, this is the Champions League of Football or the NFL, and obviously having franchises is not the goal, it’s not how it should be and it’s not the intention of F1 and the FIA.
“But if there is a real brand that comes with the level of people and the necessary funding, which is not only the almost 200 million, but you probably need more than a billion to be competitive from the beginning, why not? “
Red Bull team principal Christian Horner agreed with Wolff that Andretti would need to prove his credentials to truly make it onto the F1 grid.
“I think it’s great that there are people interested in coming to the series,” Horner said. “Andretti’s name is certainly a powerful name in the world of motorsport. But of course they are not the only ones making noise to get in.”
“But there are clear criteria in the new Agreement of Concord that must be met and approved.”
“So I’m sure they’re now involved in that process. And of course that deal is there to protect the current 10 teams and not hurt them. So obviously that should be looked at carefully.”
AlphaTauri’s Franz Tost assured that he would be delighted to welcome a new team if it receives the approval of the different bodies.
“Now we are 10 teams, and I think it’s a pretty good number, but in the end this is a decision of the FIA and the FOM,” explained the Austrian.
“And if Michael wants to come with a new team, he meets all the requirements and if the proposal is accepted, then yes. Otherwise, no.”
McLaren director Andreas Seidl explained that, given the possibility of the grid expanding to 12 teams, it would be better if it happened sooner rather than later.
Once the grid reaches the 24-car track limit, it would become more apparent that buying an existing team would be the only way in, something that would increase their values.
“For our part, we would definitely welcome the Andretti name, an American team will help further grow the sport in America,” Seidl said.
“Also, the sooner we get to 12 teams, which is the maximum allowed, the sooner the value of all teams will increase, so we would welcome them with open arms. I would love to compete with them,” he said.
Alpine’s Laurent Rossi also commented on his opinion: “I talked about it a few days ago as to whether it was good for me, and I think Andretti could have the potential for the US market, so we’ll see. It would be good to spice things up on track as well.” and that the order of the grill varies a little.
