View Full Version : Andretti/Cadillac F1 team
Christian Horner 'surprised' Andretti consulted Congress over F1 bid
https://www.espn.co.uk/f1/story/_/id/40210188/christian-horner-surprised-andretti-gone-congress
F1 News: Andretti Delivered Another Blow To Formula One Hopes
https://www.si.com/fannation/racing/f1briefings/news/f1-news-andretti-delivered-another-blow-to-formula-one-hopes-01hyr7ss3dbb-lm22#:~:text=The%20heightened%20entry%20fees%20and ,for%20Andretti%20Global's%20F1%20ambitions.
At present, the F1 Concorde Agreement — the contract that outlines the commercial terms of engagement for teams and organizers — is preparing for a major revision that will commence in 2026. This pending transformation brings with it the contemplation of increasing entry fees for new teams. The current one-time fee stands at $200 million, aimed at compensating the existing teams for potential revenue loss due to increased competition. However, a staggering proposal suggests raising this fee to $600 million by 2026 and further to $700 million by 2028, distributed over five years, according to Autosport. This financial leap could significantly strain the ambitions of entrants like Andretti Global, who are fighting for a potential 2026 grid entry and if not, an entry in 2028.
Not really a surprise, been discussed for some time now.
Why F1 and teams are still not impressed by Andretti’s entry plans (https://www.motorsport.com/f1/news/why-f1-and-teams-are-still-not-impressed-by-andrettis-new-team-plans/10418569/)
I wonder how much of Andretti’s difficulties of getting admitted to the club trace back to his approach? I recall he got a cold shoulder when asking team owners to sign a letter of support at a race, maybe the initial Miami GP.
Wouldn’t surprise me at all if this was the initial cause. Add to that the significant increase in value of each team since then. Buying a team maybe his only way in, but that won’t be cheap now.
TravelGal
05-28-24, 12:15 PM
I wonder how much of Andretti’s difficulties of getting admitted to the club trace back to his approach? I recall he got a cold shoulder when asking team owners to sign a letter of support at a race, maybe the initial Miami GP.
Wouldn’t surprise me at all if this was the initial cause. Add to that the significant increase in value of each team since then. Buying a team maybe his only way in, but that won’t be cheap now.
I agree but they also surely don't want to allow ANYONE in until they can triple the entry price. :rolleyes:
https://x.com/A_S12/status/1795509763553300773
devilmaster
05-28-24, 08:21 PM
Stewart/Haas Nascar is shutting down and selling their spots on the tintop grid.
Ben sulemayan says 'go buy one of the existing teams'...
So some things you can infer from all this:
- Ben has really no power or authority anymore.... He played his cards earlier in this situation arguing that we support an 11th team, and acted shocked when the teams said no, and now he is admitting he can't make it happen. I can see him being replaced soon.
- I suspect Gene Haas is done, and I suspect if he does it will happen before the end of the season.
- Even if Andretti tries to buy an existing team, I suspect there will still be some pushback and maybe talk that someone who missed out on the Audi purchase (like F2 team Carlin) will get preferential treatment on a f1 team purchase.. simply because they don't want Andretti now.
- I think F1 is protected from any true congressional questions simply because Haas is around. 'We have an American team owner!'
stroker
05-30-24, 07:19 AM
Stewart/Haas Nascar is shutting down and selling their spots on the tintop grid.
Ben sulemayan says 'go buy one of the existing teams'...
So some things you can infer from all this:
- Ben has really no power or authority anymore.... He played his cards earlier in this situation arguing that we support an 11th team, and acted shocked when the teams said no, and now he is admitting he can't make it happen. I can see him being replaced soon.
- I suspect Gene Haas is done, and I suspect if he does it will happen before the end of the season.
- Even if Andretti tries to buy an existing team, I suspect there will still be some pushback and maybe talk that someone who missed out on the Audi purchase (like F2 team Carlin) will get preferential treatment on a f1 team purchase.. simply because they don't want Andretti now.
- I think F1 is protected from any true congressional questions simply because Haas is around. 'We have an American team owner!'
Could the Andretti coalition be paying Haas to quit?
The problem with the F1 anti-dilution fee (https://speedcafe.com/the-problem-with-the-f1-anti-dilution-fee/)
a good explainer and analysis
Auto giant Hyundai reported to be keen on F1 entry
https://www.motorsportweek.com/2024/06/04/auto-giant-hyundai-reported-to-be-keen-on-f1-entry/
Unfortunately for Hyundai, no F1 teams are up for sale currently, at least publicly, so entering the sport in the near future could prove tricky.
However, signalling intent to join F1 by buying its way will endear Hyundai to the likes of Formula One Management (FOM), with plans from Andretti to start a team from the ground up not playing well thus far.
Cadillac better have deep pockets.
Cadillac is rumored to drop F1 unless Andretti is approved.
Cadillac is rumored to drop F1 unless Andretti is approved.
:thumbup:
F1 Rumor: Andretti's Formula One Hopes Improve As General Motors Set To Strike Deal With Existing Team
https://www.newsweek.com/sports/formula1/f1-rumor-andrettis-formula-one-hopes-improve-general-motors-set-strike-deal-existing-team-1930903
Newsweek, the first choice for F1 news
FORMER ALPINE BOSS SZAFNAUER INVOLVED IN NEW US F1 PROJECT
https://www.motorsport.com/f1/news/former-alpine-boss-szafnauer-involved-in-new-us-f1-project/10640483/
"I've been working with some organisations in North America that have the funding to start an 11th team.
"It's not Andretti. Now we're just putting some of those building blocks in place to make sure that we have everything that's required in order to be successful to both start a team, but also get an entry. So, you know, that's interesting too."
nissan gtp
08-04-24, 09:55 AM
FORMER ALPINE BOSS SZAFNAUER INVOLVED IN NEW US F1 PROJECT
https://www.motorsport.com/f1/news/former-alpine-boss-szafnauer-involved-in-new-us-f1-project/10640483/
Needs more toasters
Al Czervik
08-05-24, 10:34 AM
Needs more toasters
Good Times
https://www.youtube.com/watch?v=nMh3qu5GtZA
https://www.youtube.com/watch?v=nMh3qu5GtZA
nissan gtp
08-07-24, 08:39 AM
Good Times
https://www.youtube.com/watch?v=nMh3qu5GtZA
https://www.youtube.com/watch?v=nMh3qu5GtZA
I'd forgotten those. Good time indeed. :rofl:
F1 face major investigation into Andretti rejection (https://racingnews365.com/f1-face-major-investigation-into-andretti-rejection)
F1 owners Liberty Media is to be investigated by the United States Department of Justice following its handling of Andretti's now-rejected application to join the F1 grid.
Mikey has a new SPAC, his second
https://www.renaissancecapital.com/Profile/POLEU/Andretti-Acquisition-II/IPO
https://x.com/Sportico/status/1839678419207872844
:eek:
MICHAEL ANDRETTI TO EXIT OWNERSHIP OF ANDRETTI GLOBAL (https://www.sportico.com/leagues/motorsports/2024/michael-andretti-exit-ownership-andretti-global-1234798932/)
Michael Andretti is relinquishing his ownership stake in Andretti Global, the motorsports company he has helmed since 2002, according to three people with knowledge of the move.
relinquishing is not selling
Michael Andretti hands over control of race team to business partner. Formula 1 plans in limbo
https://www.wtnh.com/sports/ap-michael-andretti-hands-over-control-of-race-team-to-business-partner-formula-1-plans-in-limbo/
The transition was first reported by Sportico, a publication owned by Roger Penske’s son. Andretti and Penske have been at odds the entire season with Andretti complaining at the March season-opening race that Penske was not spending enough to properly market the series and if he wasn’t willing to pump in the needed cash, he said Penske should sell IndyCar and Indianapolis Motor Speedway.
The comments infuriated Penske, and his leadership group slowly began dealing more directly with Towriss instead of Andretti. The amplification of the resentment between Andretti and Penske grew as the season went on and in late August, Andretti leadership noted there was a clear conflict of interest when Penske driver Josef Newgarden was not penalized for various maneuvers while winning at Gateway outside St. Louis.
E tu Roger?
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