19/02/2022
NEWS STORY
Thwarted in his attempts to buy the Alfa Romeo operation, Michael Andretti has applied to the FIA for an entry in the 2024 world championship.
The news was revealed by his father, all round motor sport legend, Mario Andretti on Friday evening, who tweeted: "Michael has applied to the FIA to field a new F1 team starting in 2024. His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA's determination."
Last year, Andretti sought to buy the Alfa Romeo/Sauber F1 operation, but was thwarted by what he called "control" issues. Essentially this meant that whilst he could buy the operation he would not be able to control it.
Andretti was looking to buy a rumoured 80% stake in Islero Investments which owns Sauber Motorsport, which in turn runs the Alfa Romeo F1 operation, and while it was claimed there was general agreement on a deal, it was said to have been kicked into touch by the demands of Swedish Billionaire Finn Rausing, the man behind Islero.
Asked at the time if the failure to do a deal was down to money, Andretti said: "I'd like to put an end to some of these rumours that the deal fell through because of financial reasons. That couldn't be further from the truth. It had nothing to do with that. It basically came down to control issues in the final hours of the negotiations. That's what killed the deal.
"I've always said if the deal is not right, we're not going to do it," he added, "and in the end it wasn't right. So we continue to look for other opportunities.
"Unfortunately at the 11th hour, control issues changed, and it was a deal that we had to step away from because we couldn't accept it. I always said that we're only going to do it if it's right for us, and in the end it wasn't right for us."
"Michael has been working on this for quite a long time, but he's taken a different direction since there's no teams available to buy," Mario Andretti tells the IndyStar of the new project. "They're far enough along that, if they get the approval to be added to the 10 teams that exist in F1, they're ready to go the next day and put everything in place.
"This didn't just happen," he insisted. "They've been working hard to secure personnel. Some individuals are standing by that have been part of start-ups (in the past), and the (Indianapolis) building would be separate (from the IndyCar headquarters), but everything would ultimately all be under one big roof... together, but separate."
According to Andretti Snr, Andretti Global, would have its base in the UK, though the cars would be built in the US at a "state-of-the-art" facility in Indianapolis close to the team's IndyCar and Indy Lights operation.
Claiming that Andretti Global has already secured an engine partner - which he didn't name - Mario tells the IndyStar that, Dan Towriss, president and CEO of Group 1001 (an Indiana-based insurance holdings company), is partnering with his son Andretti in the team.
"They're all set," added Andretti. "They checked all those boxes, all of those things that are part of it. They're going in with their eyes wide-open with all the prerequisites.
"I don't know how confident you can feel, but you just hope that the best intentions are forward. From Michael's standpoint, there's a huge commitment. It's serious and absolutely in good faith, but all that is in the hands of the FIA and the Formula 1 teams to accept it. This isn't just on a whim or a bucket list thing. This is for real. Michael, once he sets his sights on something, he's relentless. He's aligned himself with the right people to support it, and he's doing it right."
Andretti entering the sport would be great news for the F1's owners, Liberty Media, for among the boxes it ticks is that it is American and would no doubt bring an American driver into the sport.
With F1 enjoying unprecedented popularity in the US - with a soon to be confirmed race in Las Vegas joining those at COTA and Miami - there has probably been no better time for such an entry.
In November, despite turning away from the Alfa deal, Andretti Jnr made no secret of his desire to bring 21-year-old IndyCar sensation, Colton Herta to F1.
"He'd be the perfect guy to do it," said Andretti. "I believe he could be competitive driver in Europe."
"I want (Colton) there so badly," Mario told the IndyStar. "He deserves to be there. To me, he's such an exceptional talent, and he needs to be able to show that in F1. And not only do I think he's really talented, but he really wants it himself and to be assured he's treated fairly, and you know he would get that with this team.
"And maybe if he doesn't get the results he's looking for, maybe he can get an offer somewhere else, but at least he would get a fair shake with Michael.
"You've got two races, and potentially three, in the U.S., and I don't think it would hurt F1 to have another American team. And it would definitely have at least one American driver. That, you can count on. If not, I'll cut Michael's allowance off.
"The ball's in their court at the moment," said Mario of the FIA's decision. "For me, I'm over the moon at this possibility. There's no secret how much F1 and motor racing has meant to our family. We'd be active everywhere. You've got to be ambitious, and Michael hasn't held back very much, as you can see.
"This is Michael's business, period, and it's going to be that way until the end of his professional life. We live and breathe motorsports. That's what we do."
Of course, one potential box that may still have to be ticked is that of the $200m new teams have to pay to enter the sport under the terms of the latest Concorde Agreement.