Las Vegas (AP)On Monday, Formula 1 finally announced that it will increase the size of its grid in 2026 to accommodate an American team that is affiliated with General Motors.
Being the highest level of motorsport, Formula One requires innovation and brilliance that pushes the envelope. “Joining the world’s top racing series is an honor for General Motors and Cadillac, and we’re dedicated to competing with passion and integrity to elevate the sport for race fans worldwide,” stated GM President Mark Reuss. We have the opportunity to showcase GM’s engineering prowess and technological superiority on a global scale.
The decision puts an end to years of squabbling that sparked an investigation by the U.S. Justice Department into why Liberty Media, the Colorado-based company that owns the commercial rights to Formula One, refused to sanction the team that Michael Andretti founded.
Dan Towriss and Mark Walter, the new majority owners of Andretti Global, will operate the 11th team, which will be named Cadillac F1, after Andrettiin September resigned from his position as head of his namesake company. Until GM has a Cadillac engine ready for racing in time for the 2028 season, the team will run Ferrari engines for the first two years.
As the president and CEO of Group 1001, Towriss joined the motorsports industry through Andretti’s IndyCar team after becoming a sponsor on the financial savings website Gainbridge. With ownership shares in both the Wayne Taylor Racing sports car squad and the Spire Motorsports NASCAR team, Towriss is now a significant figure in the motorsports industry.
The field crowds together at the start of the F1 Las Vegas Grand Prix auto race, Sunday, Nov. 24, 2024, in Las Vegas. (AP Photo/Matt York)
Image: Matt York/Associated Press
Walter is the controlling owner of the Los Angeles Dodgers, the World Series champions, and Chelsea, a Premier League team. He also serves as the CEO of the financial services company Guggenheim Partners.
We’re thrilled to work with General Motors to give Formula 1 a vibrant presence, Towriss stated. Together, we’re putting together a top-tier squad that will represent American ingenuity and provide race fans everywhere with events they won’t soon forget.
The 1978 Formula One world champion Mario Andretti will serve as a Cadillac F1 ambassador. However, given that Mario has reduced his engagement with Andretti Global, his son Michael will not hold an official position with the company.
To avoid overshadowing the Liberty Media portfolio showcase event, the approval, which had been in the works for weeks, was postponed until after last weekend’s Las Vegas Grand Prix. The race on Saturday night, the third and last leg in the United States for the world’s premier motorsports series, saw Max Verstappen win his fourth straight title.
In Formula One, grid extension is rare and frequently ineffective. For the first time since 1995, the grid should have had 13 teams and 26 cars after four teams were allowed participation in 2010. By 2017, three of the teams had disappeared, while one never reached the grid.
California industrialist Gene Haas owns the only American team on the current Formula One grid, however it is not very competitive and does not field American drivers. To field a genuinely American squad with American drivers was Andretti’s dream.
The battle to include this team has been ongoing for more than three years, and F1 first rejected the proposal even though the FIA, the F1 regulatory authority, approved it. Due to the dilution of prize money and the billions of dollars they have already invested in the series, the current ten teams, who have no say in the matter, were also largely against expansion.
In 2020, Andretti made an unsuccessful attempt to purchase the current Sauber squad. He then collaborated with GM, the country’s top-selling manufacturer, and applied for grid expansion. The FIA and its president, Mohammed Ben Sulayem, pushed for GM’s inclusion, stating that Michael Andretti’s application was the only one of seven that satisfied all the requirements to increase the size of F1’s current grid.
According to Ben Sulayem on Monday, General Motors is a major worldwide brand, a force in the OEM industry, and it collaborates with outstanding partners. I wholeheartedly endorse the FIA, Formula 1, GM, and the team’s efforts to keep the lines of communication open and strive at a principled agreement to advance this application.
Although Andretti and General Motors were accepted by the FIA from the beginning, F1 preferred GM over Andretti. F1 once requested that GM look for a different team to collaborate with in addition to Andretti.When Cadillac had an engine ready to compete, F1 announced it would review the Andretti application, but GM declined.
Following its business evaluation and decision in January 2024, Formula 1 has continued to discuss the feasibility of an entrance with General Motors and its partners at TWG Global, the company stated in a statement. They have reached operational milestones this year and have stated that they will brand the 11th team GM/Cadillac and that GM will eventually join as an engine supplier. As a result, Formula 1 is happy to proceed with this application process.
Greg Maffei, the CEO of Liberty Media, who was widely seen as one of the main opponents of the Andretti entrance, announced his resignation earlier this month, marking yet another significant change in the discussion about grid expansion.
We have long thought that adding an outstanding US brand like GM/Cadillac to the grid and GM as a potential power unit supplier might add value and intrigue to the sport, especially given Formula 1’s ongoing expansion aspirations in the US, Maffei stated. We attribute the notable advancements in General Motors’ preparedness to join Formula 1 to their leadership and their partners.
___
http://apnews.com/hub/auto-racing is the AP auto racing website.
The Associated Press, 2024. All rights reserved. All rights reserved. It is prohibited to publish, broadcast, rewrite, or redistribute this content without authorization.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!