F1's 11th team: Andretti sets 2024 as the target for entry onto the grid

Despite Andretti's recent struggles in their attempts to enter F1, Mario Andretti has hinted that several possibilities are being closely examined. He made it clear that significant progress is being made when it comes to cooperating with the FIA and declared 2024 as the target for the team.

Speaking to SoyMotor, Andretti said that his team have a "good plan":

"We've been working to potentially buy some existing teams, but at the moment, those possibilities don't seem so clear, so we're still trying to be the 11th team. You'll see, we have a good plan.

"Ultimately, the operational team would be in the UK, but the main hub would be in Indianapolis. Mainly because most of the equipment to build the chassis and everything would be there... I think 2024 is the target because you try to organise a lot of things before the new regulations of 2026 arrive. The sooner you start, the better. We are having discussions with the FIA, and I can say that there are a lot of things that are progressing."

F1 CEO Stefano Domenicali and the other teams have certainly not been enthusiastic about prospects of an 11th team entering the sport.

Haas boss fears dilution of revenue from 11th team entering F1

Haas team principal Guenther Steiner recently expressed his concerns regarding the potential entry of Andretti as an 11th team in F1. He emphasized that it could possibly dilute the current team's revenues, rather than benefit the sport as a whole.

Steiner argued that the sport is currently in a "good place," suggesting that there is no need to rock the boat at a time when stability is reaping the greatest benefits.

As reported by Formula1news.co.uk, Steiner said that there is no clear benefit of adding a new team:

“I think F1 knows, and Stefano [Domenicali] knows that the sport is in a very good place at the moment. Putting an 11th team in, does it create more revenue? Does it make it bigger, Formula 1? I don’t think so. It’s better to have 10 very stable teams than taking the risk to have no gain, and having somebody more to share the money with, you know.

“It’s very stable at the moment, so obviously, if an 11th team comes and they bring, let me say 10 percent more revenue, why not? But if an 11th team comes and just takes an 11th off the revenue, which is there now, so you dilute everybody else’s revenue? Why would you do that?”

Haas finished the 2022 F1 season at the eighth position in the constructors' championship.