Andretti was very close to entering formula 1 at the end of the 2021 season. The team had an agreement to take on Alfa Romeo this year, but a disagreement over the final details ended the deal. However, Michael Andretti’s team remains interested in entering the category in 2024, and has received support from other teams, such as McLaren and Alpine.
On the other hand, some teams from formula 1 they hesitated with the idea of 11 teams in the division because of the division of revenue. Zak Brown, one of Andretti’s biggest supporters, commented on the state of the American team, and hopes that the project will continue: “I hope it’s not dead. I don’t think so. But it’s certainly facing a lot of opposition.” Sports Business Journal.
The biggest problem has actually been the financial issue. In the Concorde Agreement signed by all ten current teams in the division in 2020, it was decided that new teams would need to pay an entry fee of US$200 million (about R$1 billion) to cover revenue sharing. Even defending Andretti’s entry, Brown admits that the value is low considering the growth of formula 1 in previous years.
“I don’t want to talk about what I think is the right value, but what I can say is that the value of the team formula 1 has increased dramatically since Concorde was signed. Ultimately, it is the responsibility of Formula 1 to decide what the right value is, but the value of the team is much higher than it was three years ago.”
Zak has a close relationship with Andretti, with whom he competes indie. Colton Herta, the driver of Michael Andretti, signed this year a contract as the development and test driver of the British team and is expected to participate in tests with the car formula 1. Brown sees great potential in the young American and believes he should make it to the top division in world motorsport.
“He certainly has the ability. If you look at your results in indie, he is very fast. He was Lando’s teammate in Europe last year, and Lando praises him a lot, so he has a great chance and has the ability to be a player. formula 1. That’s why we’re trying with him, and one day, if the stars align, and a seat with Colton is available, and he proves to us that he has the ability, which we believe, I can see him in F1, whether it’s McLaren. on another team,” praised Brown.
“That would add a great deal of exposure that formula 1 already in the US. We still have Las Vegas, we ran Miami for the first time, so we’re still at the beginning of rapid growth.