F1 teams share a mixed response on the topic of Andretti with regards to if it will be boon or not for the sport if they decide to enter.
The Andretti Formula 1 entry has gathered an array of mixed feelings from existing F1 team bosses, with several pointing to the potential loss and “diluting” of the sport’s newly-restructured financial framework.
After failing to agree terms to purchase a controlling stake in the Sauber-run Alfa Romeo team, Michael Andretti is eager to enter an all-new team for 2024, into the series which hasn’t seen a brand new entry since fellow-American outfit Haas joined at the start of the 2016 season.
Since then, Formula 1 has grown exponentially under new management with ten teams making up the grid, although the COVID-19 pandemic was reportedly the catalyst for the sale of Williams, and to a lesser extent, McLaren.
Andretti says he has the means to pay the $200million price tag of officially entering a team, a figure which actually goes to the current teams in compensation for the short term loss in prize money, and even has a preliminary deal with Renault for a power unit supply.
McLaren CEO and Andretti Acquisition Corporation member Zak Brown in particular is fully aligned with Andretti’s plans, calling on fellow team bosses to listen to the fans and think in a more long-term manner about the “positives” instead of “worrying about dilution”. Team Principal Andreas Seidl also says McLaren “would love to compete” with Andretti.
On similar wavelengths, Franz Tost and Christian Horner believe protecting the integrity of the existing teams is the crucial point, one in which is down to F1 and the FIA. Whereas Mercedes CEO Toto Wolff will only support the bid if it can show what “value” it can add to F1, even suggesting Andretti needs “about 1 billion to play in this club”.
Here’s what the F1 team bosses stated:
Franz Tost: “I know we have 10 teams and 10 really good teams and again this is a decision from FIA and FOM. If Michael [Andretti] wants to come with a new team and all the ingredients are coming together and all the teams also accept then yes, otherwise no.”
Christian Horner: “I think it is great that there is the interest for people wanting to enter Formula 1 and the Andretti name is certainly a powerful name in motorsport. Of course they are not the only ones making noises about coming in but there is a clear criteria through the Concorde agreement that has to be met and approved. I’m sure they are engaged in that process and of course that agreement is there to protect the 10 incumbents and not to dilute that, and obviously that would need to be carefully looked at”.
Toto Wolff: “Andretti is a name and the American market is important but every team that is joining needs to be creative, needs to add value and it is not only by paying a $200million entry fee but it needs to demonstrate, in my opinion, what it can do for all the other teams in Formula 1 and the FIA. Only then the sport will grow.
“We are the absolute pinnacle, the Champions League, the NFL and redistributing franchises on the go, that is not how it should be, not Formula 1 or the FIAs intention either but if there is a real brand coming in with good people, necessary funding, not just the entry fee, but you need about 1 billion if you want to play in this club then why not.”
Andreas Seidl: “From our side we would definitely welcome the Andretti F1 team because the Andretti name would help to grow the sport further in the US. I think it will open up more possibilities to get young drivers into the sport and the more teams we have… In the end when we get to 12 teams for example, that is the maximum we can have, will help drive the franchise value even higher of those teams so absolutely open for it and would love to compete with them.”
Laurent Rossi: “I spoke about already a few days ago along the lines of all the gentlemen here. Andretti would have the potential of all of the US aspect of it and we will see. It could be nice and will spice things up on the track perhaps which is better.”
Zak Brown: “He definitely adds value. There’s a dilution payment, which covers the F1 teams for about two years, and then it does dilute. But that’s taking a view that he’s not going to help generate more income. Does he help us get a better TV contract? Does he help bring more awareness with sponsors from America? My view is he covers the first couple of years then by the time you’re potentially being diluted I think he will have added more value than he’s diluted. All we need then is a better TV contract or digital or Netflix, or something that I think he would contribute to.
“I don’t think he saves all things North America but he just continues to build momentum. All I would need [to make it worthwhile] is one more sponsor, because he helped raise awareness in America, so I think it’s short-sighted to take the view that he’s dilutive when I think he’s additive. I think the fans would love it. It all starts with having a huge fanbase. If you said to the fans ‘would you like to see an Andretti Formula 1 team?’, they would all say yes. I just think there’s a lot more positives than worrying about dilution. I also think it adds value to the franchise because you have 10 now, a maximum of 12, so when both are sold out you’ve got to buy a F1 team. I actually think a small $10m dilution a year can help teams be worth hundreds of millions more when you get the whole supply and demand, and the supply is out.”
Jost Capito: “I have got the same view as Zak. I think 12 teams is a good number with 24 cars. The past has proven that this is a good number and F1 can take it. So this is fine and I think the more cars you have upto a certain limit (which is 24 as I see it), then the better it is for the sport. To have Andretti coming in, I have worked with Michael in US in Volkswagen, they run the Rallycross team for Volkswagen for four-five years. So, I worked pretty closely, I respect them and he’s got good people. He would be a good add to F1, that’s absolutely for sure.”
The story was written by Danny Herbert
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