Andretti Formula Racing took an important step towards the F1 family when the International Automobile Federation FIA announced on Monday that it had accepted it as a candidate for the series. There are currently ten teams competing in the F1 manufacturers’ series.
– I believe that it is also important for the F1 series that these things happen. In my opinion, in the big picture, the Formula Ones need operators like Andretti, points out Urheilu’s expert Jukka Mildh.
Mildh considers Andretti Formula Racing’s project credible. He emphasizes that it is a significant company that runs competitions in seven different series on the American continent.
– Andretti is one of the biggest names in motorsport on a global level, although as a family they have focused on it in their home country and North America. It would seem that they have the partnerships and know-how that would reach the level of the Formula Ones.
Andretti Global’s F1 partner is the well-known car company General Motors.
– Here we are also talking about Cadillac coming along as a brand. This is a really important thing for the Formula Ones. In recent years, especially in endurance races, Cadillac has built and developed advanced equipment. They still have to find, for example, an engine partner for F1, adds Mildh.
Drivers the key to the conquest of the American continent
What positive things would Andretti bring to the F1 series?
– From a sporting point of view, the fact that a very skilled, American driver would join the series. It has a big meaning. However, drivers are the key to the Americas, which is a potential market for everyone. This will increase the attraction and market growth for the sport, concludes the expert.
In addition, from a business point of view, it is very possible that an American car manufacturer or factories would join the series.
– This would also be a big consideration for the series. This would not be a competitive factor for, for example, Mercedes, Honda or others – it’s quite the opposite. North America plays a significant role when talking about the possibilities for the development of formula one.
The headquarters of the current F1 team Haas is located in the US state of North Carolina. Andretti’s inclusion in the Formula 1 series would be a completely different level of hype from a marketing point of view, however, according to the expert.
– If we compare, for example, the operation of the Haas team, then its operation is above all the marketing of the Haas company and its technology company. That’s the spirit of Haas, while Andretti is more of a sports team. This is a very important issue for the American public. Of course, Haas is also supported, but the spirit around Andretti is completely different. They have national heroes in many parts of the United States, Mildh knows.
The current F1 teams opposed the expansion of the series
The Formula One teams have previously opposed the expansion of the current 20 cars in the series. Mildh tells the reasons why this is.
– The way I see it is that when F1 moved Bernie Ecclestone in the period after and the rights went to Liberty Media, so the whole dynamic of the business changed. The stables that got on board during the change have also been able to benefit from the change. The financial structures are much stronger for them and maybe also future earning models.
– It’s always about different rights. This can be seen simply as there will be more sharers of the cake, i.e. the current income stream has to be shared with one more. According to the teams, entry into F1 cannot be free. The participation fee is now 200 million dollars. Only great sums allow you to participate. Big negotiations are ahead – especially when a new competition and money distribution agreement is about to be concluded.
Autosport’s insider sources said half a year ago that the teams want to increase the “entry amount” to up to 600 million dollars in the future.
– The determination of the value is always re-evaluated. We are talking about quite a rise, if such a rise were to happen. It can have devastating effects. Although F1 is one of the biggest sports businesses in the world, everything is theoretically possible, but the sums are unlikely to be tripled now, reflects Mildh.
The most important thing about the “participation fee” of the series is that the new team must demonstrate a financial and stable level as well as technical know-how.
– If we talk about formula one as a media, it practically means that a new team has to buy a place there. It requires bringing money along first. Then when money starts coming from the business, then it is distributed back. When you have paid the registration fee, then you also have the right to income, which is proportional to success.
Mildh: Andretti involved in 2025 at the earliest
According to the expert, those days are behind us, when you could come and try out for formula one, if you could do it, and then only three races were run. This kind of business model is no longer allowed.
According to Mildh, Andretti’s entry into Formula 1 would be timely in 2025 at the earliest, realistically perhaps only in 2026.
– The current F1 drivers may not want to start looking in the direction of a new team at this stage – especially when nothing is known about its possible performance.
A new entrant would possibly destabilize the driver market only in the future.
– Before Andretti’s team starts winning, it will take time. You can’t assume that Andretti will come and clear the table right away. Getting a top American driver to join me is a significant thing for both the series and the new team itself. Winning drivers are needed.
Mildh highlights two American F1 drivers of a suitable age who could be considered for Andretti Formula Racing in the future.
– If we look at their activities, there is a 23-year-old Colton Heart, who was previously nominated for Williams. Then there is also a 24-year-old Kyle Kirkwoodassesses the F1 expert.