Some insiders speculate that because the value of the F1 championship has gone up since the 2020 signing of the Concorde Agreement setting the rules, the sport may want Andretti Global to pay more than the existing $200 million entry fee.
Asked if he thinks that would be reasonable, Mario Andretti said in an interview: “They can ask. I don’t know if it’s legal to go beyond that at this stage. So that’s the debatable situation. I know what is part of the Concorde right now. That’s what we’re prepared to go with… It’s out there that they want more, but they never told us specifically. So we need to be told clearly what their demands are.. But tell us. Don’t keep us in limbo.”
“I cannot see how we cannot be adding some interest as an all-American team with the largest auto manufacturer, the Cadillac brand, with us. And increasing the fan base that is already in place. I mean, that’s a no brainer. You know that that’s a positive,” Andretti continued. “So I think we’re bringing something of value. It’s a big investment in the sport that we love.”
Across the U.S., the fan base has grown rapidly in recent years and this month’s Miami Grand Prix was the highest-rated F1 race on record with American viewers, according to ESPN.
The Senate letter was co-signed by both of Michigan’s senators as well as Sen. Todd Young, R-Ind., where Andretti Global is based.
“The Andretti-Cadillac team joining Formula 1 would be a win for Michigan’s economy, support good-paying jobs in our state, and likely grow Formula 1’s presence throughout our entire country,” said Sen. Gary Peters, D-Mich., the chair of the Senate Homeland Security and Governmental Affairs Committee. “We make the best cars in the world, race cars included, so I’m concerned that there are efforts happening behind the scenes by our foreign competitors to prevent Americans from participating. We need answers, and I’m going to stay on this issue to ensure this team gets its fair shot.”
Klobuchar said the popularity of F1 around the world makes it “a major marketing plus” for an American auto brand.
“Being part of it is a marketing coup,” she said. “And so we don’t want a coup to keep them out of the marketing coup.”
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