Andretti have reportedly received funding of $200 million from Guggenheim, which is set to go towards the construction of their facility and F1’s entry fee, to enter the sport in the near future.
Approval from F1 is still pending, although Andretti hope to have a car ready to race by the 2026 season.
Speaking to IndyStar, Michael Andretti said:
“This isn’t about IndyCar. With this, we want to do something that’s never been done before. We want to be in all forms of auto racing, from Le Mans to Monaco to the Indy 500 and the Daytona 500. And eventually in the future, we want it all to be under one roof. That’s our big goal, and we’ve got a lot of plans in the works to get there.”
It is understood they will fund Andretti’s $200 million facility and pay the F1 entry fee.
This is huge for Andretti.
[eu.indystar.com]
| Andretti has reportedly received backing from Guggenheim Partners, a firm with over $285 billion in assets. It is understood they will fund Andretti’s $200 million facility and pay the F1 entry fee. This is huge for Andretti.[eu.indystar.com]
His father, Mario Andretti, posted a Tweet earlier this year regarding his plans to join F1 with a new team in the 2024 season.
Michael has applied to the FIA to field a new F1 team starting in 2024. His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA’s determination.
Michael has applied to the FIA to field a new F1 team starting in 2024. His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA’s determination.
Rumors about Andretti potentially buying out Red Bull’s sister team AlphaTauri were put to an end when Michael Andretti clarified that Red Bull were not interested in selling the team.
Hey said:
“No, they’re not interested. But we’re working every day (to earn clearance for an expansion team). I’m still confident. We’re getting close. We haven’t gotten the ‘OK’ yet, but we’re getting really close.”
Max Verstappen says that second drivers need to “accept” their role to survive in F1
Team orders have historically been a point of discussion in F1 and reigning world champion Max Verstappen has offered his own opinion on the matter. The Red Bull driver claimed that both drivers in a team start every season fresh, but with time, it becomes clear if one driver is less likely to be able to fight for the title as compared to the other.
He added that this should be acceptable to a driver, and that this is the only way for them to survive within the team and the sport as a whole.
Speaking about Valtteri Bottas and his role as the second driver at Mercedes for five seasons, the Dutchman said:
“Every year he starts fresh. But after a few races you realize it’s not going to happen again and you accept your role. He still finished on podiums, he won a few races and took pole positions. You just have to accept that the driver next to you is just a bit better. That’s fine, that can happen. It’s important that he accepted it. Some drivers can’t do that and then it goes completely wrong. Then they don’t survive for very long. I’m not going to name names, but you have to accept your role. You can’t live in a fairytale world.” Valtteri Bottas is prepared to accept team orders from Mercedes to help Lewis Hamilton’s #F1 title bid this year.
Should Mercedes do whatever it takes for Hamilton, or let its drivers race?
autosport.com/f1/news/138393…
Valtteri Bottas is prepared to accept team orders from Mercedes to help Lewis Hamilton’s #F1 title bid this year. Should Mercedes do whatever it takes for Hamilton, or let its drivers race? autosport.com/f1/news/138393…
Some fans have speculated that Max Verstappen is indirectly referring to his own teammate Sergio Perez, who has often played a supporting role at Red Bull over the last two F1 seasons.
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