Wednesday, April 17, 2024

FIA approves Andretti application to enter Formula 1

The FIA announced the approval of Andretti Formula Racing LLC’s application to join the FIA Formula 1 World Championship after concluding their analysis of four prospective teams. The Andretti application has now entered the third and final phase of the application process, in which Formula One Management will carry out commercial discussion regarding the addition of the eleventh team.

Phase two of the FIA’s application process took into account several key criteria, including prospective teams’ sporting potential, technical abilities and financial viability. The sustainability and social impact of each applicant were also assessed. Of the four teams that submitted formal applications, Andretti was the only team that met the FIA’s comprehensive review.

FIA President FIA President Mohammed Ben Sulayem said that the FIA’s thorough review was intended to ensure that only prospective teams that satisfy their standards would be approved.

“The FIA was very clear in establishing stringent criteria for entry from the outset of the Expressions of Interest procedure. Our objective, after rigorous due diligence during the application phase, was to only approve prospective entries which satisfied the set criteria and illustrated that they would add value to the sport.

“The FIA is obliged to approve applications that comply with the Expressions of Interests application requirements and we have adhered to that procedure in deciding that Andretti Formula Racing LLC’s application would proceed to the next stage of the application process. In taking that decision, the FIA is acting in accordance with EU directives on motor sport participation and development.”

Ben Sulayem congratulated Andretti on their creation of a “thorough” application, and thanked the other prospective teams that underwent the application process for their involvement.

“Andretti Formula Racing LLC was the only entity which fulfils the selection criteria that was set in all material respects. I congratulate Michael Andretti and his team on a thorough submission. I also want to thank all prospective teams for their interest and participation.

“The Expressions of Interest process builds on the positive acceptance of the FIA’s 2026 F1 Power Unit Regulations among existing OEMs which has also attracted further commitment from Audi, Honda and Ford and interest from Porsche and General Motors.

“I would like to thank all of the FIA team members involved in the Expressions of Interest process for their tireless efforts in ensuring a diligent assessment of all of the applications received.”