Formula 1 has experienced massive growth in the last few years in terms of its audience – and it seems as though its grid is about to get bigger too.
On Monday this week, the FIA gave the first concrete clue that it is open to allowing new entrants into the premier class of single-seater motorsport. A new 'Expressions of Interest' platform was opened, allowing any interested parties to make their desire official by submitting their plans.
Audi avoided having to do this by striking a deal with an existing team. Sauber, currently racing under the Alfa Romeo brand, will become the German carmaker's official works team from 2026, when new engine regulations come into force.
Andretti tried to do this with their own takeover attempt of Sauber back in 2021, but it collapsed. Now seeking to launch the sport's 11th current team, they have made their first major move to make that happen, announcing a partnership with Cadillac.
Their new team, if approved for F1 entry, will bear the name of both American brands, with the General Motors Company (GMC) jumping at the chance to get involved. And they will not be the only ones, with the FIA set to court interest from several parties in the coming months.
The governing body appeared flattered by the interest of both Andretti and GMC, crowing that it was "particularly pleasing to have interest from two iconic brands" keen on joining the F1 party. "Today's news from the United States is further proof of the popularity and growth of Formula 1," the FIA declared.
Why is the sport so attractive now? After all, in the 2010s several teams came and went within the space of just a few years as the financial demands of simply existing – not even competing – in the sport proved to be too challenging for many.
But the current scene is much different. In just a few short years since the Liberty Media takeover, F1 has become much more stable and financially responsible. Now that it is warming to the idea of a new team again, it seems the FIA is confident that, as long as all the proper due diligence is carried out, any new entrant would have a solid chance of survival.
There will be no shortage of brands and businesses wanting to claim a slice of the ever-growing F1 pie. On the carmaker side, Audi is already in, Porsche came close before the collapse of its Red Bull deal and is still interested, Ford have been linked with a return to F1, Honda has signed up for the 2026 engine rules and Hyundai have also been tipped to get involved.
In terms of privateers, Andretti's bid looks to be the most advanced and serious, but they are not alone. Hong Kong billionaire Calvin Lo wants to bankroll a new Asian team and recently spoke to Mirror Sport about his plans. And he is not the only interested party from the East, with the Panthera Team Asia project also raising funds to submit a bid to the FIA.
Whether or not any of them are successful remains to be seen. Under current rules, any new team would have to pay a $200m dilution fee which would be distributed among the 10 existing teams, but $20m each would be a drop in the ocean for most of them and not enough to buy their support.
Speaking back in May about the prospect, Mercedes chief Toto Wolff explained why he and many others would be against it. The Austrian declared that any new team would have to demonstrate that it could bring in more money than it would cost, adding: "We don't want to dilute that value by just adding teams."
