Former world champion Mario Andretti confirms his son, Michael, has applied to the FIA to enter a new Formula 1 team starting in 2024
- Michael Andretti has applied to the FIA to enter a new Formula 1 team in 2024
- Andretti’s father, Mario, confirmed his son’s application via Twitter on Friday
- Michael came close to agreeing a deal to take over Sauber in October last year
Michael Andretti has applied to the FIA to enter a new Formula 1 racing team starting in 2024, as confirmed by his father Mario.
The younger Andretti came close to agreeing a deal to take over Sauber, which runs Alfa Romeo’s Formula 1 team, in October last year before the deal fell through just 48 hours from closing.
Andretti’s interest in F1 has been long-standing, and with the championship’s rapid expansion in the United States, has now decided to pursue his own project.
Michael Andretti has launched a bid to the FIA to enter a new Formula 1 team starting in 2024
Michael (L) pictured with father Mario (R) who confirmed the news via his Twitter on Friday
Mario Andretti, the 1978 F1 world champion, took to Twitter on Friday evening to reveal the news.
Andretti said: ‘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.’
In accordance with the latest Concorde Agreement, any new entrants are required to pay $200M (£147M) ‘anti-dilution fee’ – which Andretti will have to pay.
Mario Andretti (left) won the 1978 Formula One World Championship and four IndyCar titles
Formula 1 CEO Stefano Domenicali last year played down the idea of an 11th team joining, suggesting he was happy with the current roster.
Domenicali said: ‘I do believe that it’s important to keep the value of the actual franchises or teams, because that really can make the difference in terms of their sustainability.
‘I would prefer to keep a better sustainability with the teams that that actually here.’
With Formula 1 gaining popularity in the States, there are plans for two races in the US this year, with the Miami Grand Prix joining the Circuit of The Americas held in Austin.