Father and son Mario and Michael Andretti are actively trying to form a new F1 team. Their desired entrance season is 2024. Will Andretti Join F1? Only time will tell. In the meantime Calvin Lo, the billionaire chief executive of insurance broker RE Lee is also actively investigating launching a new team in 2026.
Forming a new F1 team is a very expensive process, and unfortunately, it doesn’t end there. The applicant has to meet strict requirements imposed by the FIA and Liberty Media. If all the requirements are met, each of the ten teams has to agree to allow another player on their jealously guarded turf.
Following this, the prospective team has to compensate for the losses existing teams suffer because they have to share the revenue amongst eleven teams instead of the existing ten teams.
What The Mario Andretti F1 Team Has To Do To Join F1?
It takes deep pockets, a thick skin, and endless amounts of determination to go through the process of entering a new team into the Formula one circuit.
After you have jumped through a seemingly endless number of hoops, the applicant may find that irrespective of how capable they are, one of the existing teams has vetoed their entry.
What hoops does the team jump through?
Mario Andretti F1 Team Joining Takes A Long Time
Once the application process has started, it may take four years before the team can prove that they have the necessary financial backing, skills, and resources to run a team. finally they will have an answer to the question – Will Andretti join F1?
The FIA usually opens up an application period from the 21st of October to the 1st of November of the previous year. During this period, the FIA ostensibly invites applications.
If the team receives an invitation, the next step must be followed.
The Mario Andretti F1 Team Is Required To Pay An Application Fee
The team pays the sum of $200 million with the application. The purpose of this is twofold.
It Compensates The Teams For A Loss Of Revenue
Part of the income from the F1 commercial rights distributes to the constructors.
This is a significant payment that helps fund the teams’ costs.
The revenue splits amongst eleven teams. This reduces the current teams’ revenue.
The effect of this is that the existing teams would suffer a 10% reduction in revenue which is a substantial loss when you understand how much teams receive.
They measure the value of F1 teams in several different ways, including.
- Their vast depths of technical knowledge.
- The personality of the team and how fans perceive it.
- The size and dedication of the fan bases.
- The all-important sponsorship relationships.
- The institutional memory that each team has acquired over many years of participation.
- The structure of the teams and drivers.
- The engineering resources.
- The team’s Infrastructure.
As with any company, but perhaps more so with F1, this degree of institutional maturity takes years to develop.
The $200 million entrance fee ensures that new entrants must appreciate the other teams’ value and their depth of knowledge in the sport.
It Demonstrates That The New Team Has Resources
Charging such a high fee ensures that only applicants with the resources to risk $200 million without a guaranteed “yes” answer can apply.
The $200 million deposit is just the start.
The Other Teams Don’t Want You There
Article 8.6 of the 2021 F1 Sporting Regulations allows 26 cars to race.
While this does offer the potential to increase the number of teams from the present ten to thirteen, the reality is that the finances, relationships, and Infrastructure support the existing 20 cars very nicely.
Despite a team like Andretti Motorsport carrying the right credentials (Mario Andretti raced through the 1970s and into the 1980s), the reality is that they are facing an uphill battle.
At the start of the 2022 season, the governing body indicates that they are not currently in a position to entertain new applicants.
The Mario Andretti F1 Team Has To Prove That They Have The Ability
Once the previous steps are complete. The FIA must indicate that they will entertain a formal application, the new team must comply with the requirements of article 8.2 of the 2021 F1 Sporting Regulations. These include.
- The team has to confirm that they have read, understood, and will comply with the sporting codes regulations.
- The team also has to confirm that everyone involved will comply.
- The team d to formally provide its name and the name of the chassis.
- What the make and manufacturer of the new cars is.
- If the four engine manufacturers have agreed to supply a power plant,
- They will reveal the drivers names. he drivers mustqualify for a super license, so the team can submit.
- The team must pay a fee to the FIA.
- The applying team must agree to enter cars and drivers in every event.
Once the team has provided the information, the FIA scrutinizes its ability and resources to ensure they have the capability. This requires that the following questions are satisfactorily proven.
When Will The FIA Consider Team Applications?
Calvin Lo has expressed interest in launching a team in line with the new 2026 engine regulations.
Conclusion
Will Andretti Join F1? This is not a process for those who give up easily or cannot handle adversity. Applying for and launching a new F1 team is similar in complexity and risk to Elon Musk’s gambles to get into space.
There is no guarantee of success.
References
2023 F1 Driver Line Up – F1Worldwide.com
https://www.andrettiautosport.com/
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