F1 CEO Domenicali says Andretti calling teams 'greedy' was 'not smart.'
Michael Andretti and his father, Mario, have not been quiet about their ambitions of entering Formula 1 as a new team as soon as possible. Andretti's effort has hit headwinds from the start among the current group of teams on the grid.in February 2022, the immediate reaction from American fans was electric. This was a real American F1 team run by one of the great racing families. It seemed like a no brainer for the F1 community to embrace. Instead, the reception was tepid.
Most declined. The reasons varied, with some saying that the Andretti name is all well and good, but they weren't bringing a new manufacturer in which is what F1 would really embrace. Now, Andretti has the backing of General Motors and Cadillac, pretty amazing backers. Current teams still aren't impressed, and the real reason is that it'll dilute their take of the prize pool, something Andretti has said equates to 'greed.
I think we need to respect everyone. There are teams like Mario Andretti and Michael Andretti being very vocal about their will to enter Formula 1 – in my view not smart to say that teams are greedy to protect themselves, but that’s my opinion. But there are others that are much less vocal that would like to come into Formula 1.
Thing is, Michael and Mario aren't wrong. The teams are worried about their stake, which has become more valuable thanks to the expansion of F1 in key markets like the United States, being diluted. They want to keep the profits. That's the definition of greedy. Andretti has said his effort is ready to pay the gigantic, nine-figure, anti-dilution fee for a new team.
The truth can hurt, Stefano. Hopefully, if and when new teams are admitted to the championship, the Andrettis are first on that list.
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