On Tuesday, Michael Andretti scathingly labeled Formula 1 staff house owners “greedy”, accusing them of prioritizing their very own pursuits over the game, inflicting the lukewarm reception to his bid to convey an all-American staff to the collection.
Formula 1 house owners have expressed indifference to the announcement final week that Andretti Global and General Motors model Cadillac have been becoming a member of forces to turn out to be the game’s eleventh staff.
Andretti, who has been doggedly pursuing an F1 staff for a number of years, hit again on Tuesday in an interview with Forbes, placing the lukewarm reception all the way down to greed.
“It’s all about money,” Andretti informed Forbes. “First, they suppose they will get diluted one-tenth of their prize cash, however in addition they get very grasping pondering we are going to take all of the American sponsors as nicely.
“It’s all about greed and looking at themselves and not looking at what is best for the overall growth of the series.”
An all-American staff backed by automotive big General Motors with an American driver would appear a horny alternative for Formula 1, which has been making a push into the U.S. market, the place three races (Miami, Austin and Las Vegas) will probably be run this season.
But a significant roadblock is the dilution of the groups’ share of the revenues and a sense that the present $200 million entry price, which might be shared among the many current 10 groups as compensation, now appears too low cost.
While the Andretti/GM bid seems to have ticked all the proper containers, different deep-pocketed teams have additionally been sniffing round Formula 1 with German sports activities automobile producer Porsche and Honda expressing curiosity.
The Andretti plan, nonetheless, shouldn’t be with out some sturdy backing.
The head of the game’s governing physique (FIA) Mohammed Ben Sulayem has expressed his assist however Formula 1’s business rights holder and groups have been much less enthusiastic.
“In Formula 1, the owners look out for themselves; not what is best for the series,” stated Andretti, who additionally revealed within the Forbes article that he’s wanting so as to add a NASCAR Cup Series staff to his motor racing steady that features IndyCar and Formula E.
“President Mohammad is looking for the way forward for the game.
“Mohammad gets it.”
The technique of including a attainable new outfit will observe strict protocols. Even if accepted a brand new staff wouldn’t be capable of enter earlier than 2026 on the earliest.
Andretti, son of 1978 F1 world champion Mario, has an excellent report as a staff proprietor and businessman however it’s Project 1001, run by Dan Towriss, that in keeping with Forbes, provides the capital funding for the F1 enterprise.
“Without them, it wouldn’t be happening,” Andretti stated. “They are the backbone of the whole thing. It will take a long time to get there, but eventually, we want to be one of the top teams in Formula 1,” he added.
“Our end goal is to be competing for the world championship five or six years down the road,” Andretti shared.
