Andretti says it will continue with its plans to join Formula 1’s grid “as soon as possible” in the wake of its application being approved.
Formula 1’s governing body, the FIA, confirmed on Monday that Andretti Formula Racing was the only applicant to meet its threshold for a potential new team.
Andretti’s bid has now been put forward to allow the company to undertake commercial discussions with Formula 1’s owner Liberty Media.
Formula 1 is in no obligation to approve Andretti’s entry despite the FIA giving the green light.
No timeframe has been outlined in terms of commercial discussion.
“Andretti Cadillac is honoured that the FIA has approved Andretti Formula Racing’s Expression of Interest for the FIA Formula One World Championship,” read a statement issued by the team.
“We appreciate the FIA’s rigorous, transparent and complete evaluation process and are incredibly excited to be given the opportunity to compete in such a historic and prestigious Championship.
“The formation of this distinctly American team is an important moment of pride for all our employees and fans.
“We feel strongly that Andretti Cadillac’s deep racing competencies and the technological advancements that come from racing will benefit our customers while heightening enthusiasm for F1, globally.
“We look forward to engaging with all of the stakeholders in Formula One as we continue our planning to join the grid as soon as possible.”
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