If Andretti Autosport intends to attempt to compete in Formula 1 seriously, the American outfit will likely have to pay a significant sum. According to a recent report from Motorsport.com, the ten current Formula 1 teams have proposed raising the “anti-dilution” fee for entering the series to at least $600 million.
@FollowAndretti could face a staggering $600M minimum fee to enter #Formula1. The proposed “anti-dilution” fee by the current F1 teams would require new entrants to pay $20M to each team, making it a significant challenge for the American team to join the racing series. #Andretti
— David Mckanzie (@jonmurphi2) March 1, 2023
This move could make it even more expensive for new teams to join the sport and could act as a barrier to entry for Andretti Autosport and other aspiring competitors.
Michael Andretti, the team owner, applied to enter his Andretti Global team into Formula 1 for the 2024 season. Last month, Andretti joined forces with General Motors and declared their intention to compete under the Cadillac banner, hoping to debut as early as 2025. The Formula 1 grid currently features 10 teams and 20 cars per Grand Prix.
As per the proposal made by the existing teams, the “anti-dilution” fee would require new teams to pay $20 million to each of the current teams, as compensation for the possible losses incurred by the influx of new competitors into the esteemed racing series.
Suppose the proposed increase in the “anti-dilution” fee for entering Formula 1 causes Andretti Autosport to reconsider its plans. In that case, the team may focus on acquiring an established team instead.
Despite Andretti’s previous attempts to purchase teams like Sauber, those efforts have not been successful. Notably, no American team is currently part of the Formula 1 grid. However, the sport has recently gained significant popularity in the United States, with new Grand Prix races added in Las Vegas and Miami to complement the existing one in Austin, Texas.
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Andretti Autosport has expressed its commitment to recruiting at least one American driver if it succeeds in entering the F1 competition, as stated in last month’s announcement. The team is active in various open-wheel racing competitions, including IndyCar and Formula E.
