I am not quite sure what Andretti thinks the end-game is here, but it is not the approach I would have taken. After being rejected by FOM for entry into the sport in 2025 as an additional team, they were given the opportunity to re-apply after 2026 when Cadillac said they would be able to produce an engine for the car. This sounds reasonable to me, as the real benefit to the sport is the addition of GM as a power unit supplier. Basically, they are saying "prove to us that the GM/Cadillac is a real opportunity". Equipped with this information, Andretti had the choice of accepting this and working very closely with FOM, FIA, and GM to come up with a strategy that works for all parties to enter the sport, which could include the purchase of an existing team if the #1 objective was to get into the sport. However, I don't feel that is the key objective, as Andretti wants to enter the sport at the bargain rate of the $200 million "anti-dilution fee" of a new team, instead of paying the $1+ billion value of an existing team. Instead of working together on a solution, Andretti are choosing to use the US Congress to put pressure on FOM to force them to allow Andretti to enter the sport as the 11th team. This very short-sighted view is going to have long-term consequences as the FOM will not be willing to work collectively on a solution, but will now rather not have a group put pressure on their business model and force their way in. Think about what FOM can do to Andretti and their partners if they are allowed into the sport, there will be real animosity towards the team, and they will not be given the courtesy of competing equally. There will be real consequences as they don't call F1 the "Piranha Club" for nothing. If I was hired to do the consultancy on this issue, I would suggest backing off and going to FOM in a humble manner, ask for forgiveness, and work towards a mutual solution. This will be fun to watch! https://lnkd.in/eQsYDSjJ
I am not sure how much of this is Andretti’s doing or if it is grandstanding politics. I suspect the latter.
Vincenzo Landino
3mo
Not fair to call $200 million a bargain rate when it's the rate *agreed* upon in the Concorde Agreement. It's clear they have funds and resources and connections to bring success to the grid.
Marat Pashkevich
3mo
Motorsports isn't Motorsports anymore and it's unfortunate. It's all big business and incredibly political which I understand comes with industry growth and global interest. It's incredibly sad that the US Judiciary Committee is getting involved. Not a headline I thought I'd ever read. They should have let Andretti join in the first place, especially since F1 has their expansion set to the US market. Would have made things a bit more fun; I personally would have loved to see the battle between a US engine manufacturer and Europeans 😁 Hope this bs calms down and we keep governments out of racing. Thanks for sharing Steve.
Edward Koczan
3mo
If I recall it was an article on Racer that pointed out that AG DID in fact try to purchase an unnamed existing team and was told it wasn’t for sale. When that is not an option, petitioning for a new team entry (10 current teams is well under the Concorde Agreement maximum), so it in fact IS a viable path forward when nobody will sell you their charter.
MIKE DUSEBERG
3mo
So the Congressional emails get through, but not F1’s?
Paula Kendrach
3mo
I stand behind Andretti!
Spire Sports + Entertainment
3moThis might actually be the worst take I’ve read on the subject. They did everything they were told to do and more. They have it all in place. And they were told no. On paper they have a clear cut case. And I am not sure you understand the full scope of the agreement. You also can’t arbitrarily decide to change the entry fee. They even tried offering teams money to buy. No one wanted to sell. So they built a program / car / assets and brought in GM.