Several F1 team principals surmised this week during preseason testing at Barcelona that such a financial investment could be near $1 billion. With partner Dan Towriss, president and CEO of Group 1001 (the parent company of Andretti’s Ind圜ar partner Gainbridge), Andretti already has the funds lined up not only to pay F1’s $200 million dilution fee, but enough to build the level of infrastructure – people, parts and structures – necessary to relatively soon compete with the bulk of the rest of the grid. Plans would be to set up a home base in the U.K., with the cars to be constructed in Indianapolis in a “state-of-the-art” facility near the Ind圜ar and Indy Lights home base. Herta on chance to jump to F1 with Andretti: 'You can't pass up an offer like that'Īs Mario later revealed first to IndyStar, his son is well down the road to get this project up to speed quickly.Andretti would build new F1 team's cars in Indianapolis, says Mario Andretti.The latest on Michael Andretti's F1 pursuit:
driver, I think that would go a long way to the popularity of Formula 1 in the United States.” “We wanted (the FIA and F1) to see that we feel we can get a lot of support from the fans, and hopefully that can help Formula 1 see how it could help the series. “But I thought it was a good idea, because I think it’s important to get it out there, that we’ve been working on this for a long time,” Michael said Friday, referring to Andretti Global, his hoped-for F1 team. “We were making it look like, ‘Here dad goes again, he’s always giving away my news,’” Michael said with a chuckle. a week ago, a month after he’d hoped to have been given the green light by the FIA, he and Mario decided together to go public. The multi-layered controversy in F1’s mid-December season-finale in Abu Dhabi, combined with the addition of a new president of the FIA, had taken significant time and resources away from the sanctioning body, though.
Originally, he was told the FIA wanted to get through the end of 2021, that perhaps he’d receive an answer by early January.
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