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with a second local race, the Miami Grand Prix, joining the calendar from 2022. Launching an F1 team could be a shrewd move for Michael and Mario Andretti, and their Andretti Autosport team, at a time when the series is expanding its presence in the U.S. However, given Mario Andretti's tweet, it now looks like Michael Andretti is keen to launch his own team. Haas, owned by fellow American Gene Haas, was specifically mentioned in the report, along with Alfa Romeo and Williams. Racer reported last summer that Michael Andretti had been actively pursuing the acquisition of an F1 team. However, both Michael and Mario Andretti established a special purpose acquisition company (SPAC) called Andretti Acquisition, which was listed on the New York Stock Exchange in January and raised approximately $200 million in the process. The rules allow for up to 13 teams.į1 isn't exactly a sport one enters without significant financial resources. There are currently 10 teams in F1, so the Andretti team would potentially be an 11th entry.
His entry, Andretti Global, has the resources and checks every box. Michael has applied to the FIA to field a new F1 team starting in 2024. He also said in the tweet that his son's potential entry, Andretti Global, has met all the requirements and has the necessary resources, and is now waiting to hear back from the FIA. He tweeted that his son has applied to the FIA regarding fielding a new team from 2024.
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