The FIA has reportedly received four Expressions of Interest applications, including one from Andretti Cadillac, and is planning to admit two new teams to the grid. Financial backers of Formula 1 teams get high returns on their capital. To join this elite group, however, is no easy task, since the rules of the sport limit the number of teams to 12, and the number of vehicles to 24. Four ambitious teams, including the much-talked-about Andretti Cadillac alliance, applied to join in February of this year. The FIA is now conducting reviews of these applications and expects to continue doing so through the end of July. The FIA has been tight-lipped regarding the identities of the four candidates, but industry sources have speculated that Andretti Autosport, Hitech Grand Prix, a project backed by a rich Hong Kong-based Chinese businessman and Rodin Motorsport from New Zealand, sponsored by billionaire David Dicker, are the front runners. By the month's end, the FIA will announce its verdict, and early signs suggest that Andretti and Hitech GP will get approval.
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F1: How does Grid Expansion Affect Existing Formula 1 Teams?
Ferrari team principal Frederic Vasseur attributed the sport's popularity in the United States to the fact that there are now more American drivers in Formula 1.
At the Team Principal's press conference for the 2023 British Grand Prix, Vasseur addressed the possibility of an additional team joining Formula One. This comes after FIA President Mohammed Ben Sulayem recently brought up the Andretti Global and General Motors (through Cadillac) bid once again.
In a recent interview, FIA president Mohammed Ben Sulayem said that he does not see how he could turn down a team like Andretti Autosport because of their partnership with General Motors. Another factor is the upcoming political battle for the 2026 renewal of the Concorde Agreement. Some existing teams have voiced worry that a new team may dilute the prize pool while stressing that entrants should contribute meaningful value to the sport.
Also, problems persist even if a team like Andretti Autosport obtains an FIA licence. To be eligible for entrance and prize money under the Concorde Agreement, they would require Liberty Media's permission to participate.
The latest deadline for prospective F1 teams to submit bids has passed, and sources suggest that the FIA and F1 are now reviewing two offers from Andretti Cadillac and Hitech Grand Prix.
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F1 Hungarian Grand Prix: AlphaTauri Brings More Updates for AT04
In recent years, the AlphaTauri AT04 has not been one of the best racecars produced by the sibling Red Bull team. Long in the works, the major change debuted at the British Grand Prix with the express purpose of boosting rear-end grip in low-speed bends. This weekend in Budapest, Yuki Tsunoda and his new colleague Daniel Ricciardo will compete in the second stage of this upgrade.
A redesigned floor, top bodywork, and diffuser were the focus of the Silverstone component of the makeover. The medium downforce rear wing also saw a new iteration, although this was a different improvement.
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