FIA approves Andretti's F1 entry
https://www.pitpass.com/76271/FIA-ap...ettis-F1-entry
The FIA has officially given the green light to Andretti Formula Racing's bid to enter F1, which will now be passed to Formula One Management for commercial discussions.
Following the conclusion of a comprehensive application process for prospective teams seeking to participate at a competitive level in the Formula One World Championship, the FIA concluded that the application by Andretti Formula Racing LLC should progress to the next stage.
Andretti Formula Racing LLC was the only candidate to meet the stringent criteria that was set by the FIA in all material respects from the four teams which lodged formal applications in Phase 2 of the process. The initial call for Expressions of Interest (Phase 1) attracted numerous enquiries which resulted in four progressing to Phase 2.
The FIA has officially informed all applicant teams of their findings after a thorough appraisal.
Following the call for Expressions Of Interest in February, the FIA has applied a robust process of due diligence during which the applicants were assessed on the sporting and technical ability, the ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level and the team's experience and human resources.
Selection criteria also included sustainability management in line with the FIA's ambition of achieving the sport's goals for net-zero by 2030. Any prospective F1 team was also required to illustrate how they intend to achieve a positive societal impact through its participation in the sport.
As part of the agreed process of the Expressions Of Interest protocol, the FIA findings on Andretti Formula Racing LLC's submission will now be passed to Formula One Management (FOM) for commercial discussions.
"The FIA was very clear in establishing stringent criteria for entry from the outset of the Expressions of Interest procedure," said FIA President Mohammed Ben Sulayem. "Our objective, after rigorous due diligence during the application phase, was to only approve prospective entries which satisfied the set criteria and illustrated that they would add value to the sport.
"The FIA is obliged to approve applications that comply with the Expressions of Interests application requirements and we have adhered to that procedure in deciding that Andretti Formula Racing LLC's application would proceed to the next stage of the application process. In taking that decision, the FIA is acting in accordance with EU directives on motor sport participation and development.
"Andretti Formula Racing LLC was the only entity which fulfils the selection criteria that was set in all material respects. I congratulate Michael Andretti and his team on a thorough submission. I also want to thank all prospective teams for their interest and participation.
"The Expressions of Interest process builds on the positive acceptance of the FIA's 2026 F1 Power Unit Regulations among existing OEMs which has also attracted further commitment from Audi, Honda and Ford and interest from Porsche and General Motors.
"I would like to thank all of the FIA team members involved in the Expressions of Interest process for their tireless efforts in ensuring a diligent assessment of all of the applications received."
The Expressions of Interest process:
In February 2023, the FIA announced the official launch of an application process to identify prospective teams seeking to participate at a competitive level in the FIA Formula One World Championship.
All applicants underwent thorough due diligence. The assessment of each application covered in particular the sporting and technical capabilities and resources of the applicant team, the ability of the team to raise and maintain sufficient funding to allow participation in the Championship at a competitive level and the team's relevant experience and human resources.
Applications were also judged on their ability to meet sustainability criteria and deliver positive societal impact in line with the FIA's approach to Equality, Diversity and Inclusion.
The overall long-term interests of the Championship, involving all stakeholders, determined which candidates were selected together with the applicable regulations and governance arrangements.
The terms of the formal application process (together with the complete selection criteria, applicable deadlines, legal requirements and other conditions) were communicated to candidates that submitted a preliminary Expression of Interest to the FIA.
Phase 1: Call for Expressions of Interest
Phase 2: Application, evaluation and approval process
Phase 3: Successful applicant referred to FOM for commercial discussions
