F1 Rumour: FIA To Approve Two New Team Applications As Grid Expansion Becomes More Likely
It has been reported that the FIA is set to approve two new teams to the grid since receiving four applications in the Expressions of Interest process, including Andretti Cadillac.
Formula 1 is one heck of a profitable arena, with investors seeing handsome returns on their investments. But breaking into this exclusive club is no small feat - the sporting laws cap the field at twelve teams with 24 cars. Four ambitious teams sought entry this past February, including the much-discussed Andretti Cadillac partnership. The FIA is now in the process of reviewing these applications, this stage is expected to go on until the end of July.
The FIA has remained tight-lipped about the identity of the four applicants, but insiders suggest Andretti Autosport, Hitech Grand Prix, a project by a wealthy Hong Kong-based Chinese businessman, and Rodin Motorsport from New Zealand, funded by billionaire David Dicker, are in the mix. The FIA’s decision is set to drop by the end of July, with strong indications that Andretti and Hitech GP might get the thumbs up.
FIA president Mohammed Ben Sulayem has recently commented in an interview that he cannot see how he could refuse a team like Andretti Autosport with their collaboration with General Motors.
The politics surrounding the Concorde Agreement, which is due to be renewed in 2026, also plays a role. Some of the current teams are maintaining that newcomers should add substantial value to the sport and have raised concerns of a new team coming in and diluting the prize money.
Lastly, even if a team like Andretti Autosport secures a license from the FIA, they still face challenges. They would need approval from Liberty Media to participate in the Concorde Agreement, enabling them to collect entry and prize money.