“Andretti Cadillac has reviewed the information Formula One Management Limited has shared and strongly disagrees with its contents,” read the opening line of the statement that the American outfit released after its brutal rejection by Formula One Management. And the brutality hasn’t stopped. Liberty Media’s antics have been exposed in the latest revelation made by Andretti. To top it all and make things worse, the supposed future entry of the American outfit will now cost them almost four times the amount that they would have originally paid. That is if Liberty Media ever gives them a green flag.
According to Mario Andretti told NBC that Liberty Media’s owner, Greg Maffei, said he “will do everything in my power” to stop Andretti from joining F1. F1’s response to this claim is “no comment.” As if this wasn’t an appalling occurrence already, the new Concord agreement and revised entry fees for the future are gut-wrenching.
Discussing on the Missed Apex F1 Podcast, Spanner Ready said, “Now interestingly though the rejection from Liberty Media wasn’t a flat-out no. It was going to come and come and apply later. The no was for an immediate entry, right? The no was for coming in next season. So they can still come in 27-28, but they’ve got to come in with their engine is what Liberty Media argued conveniently. The price between what they would have paid if they got immediate entry and what they will now have to pay is somewhat different. So was that in the Concord agreement?”
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Matt Trumpets answered in the affirmative, saying,
“Yeah, so what happens is with the new Concord agreement, the teams will have requested an increase in the original dilution fee. [It] was around $200 million and they’re going to be looking for more like $750 million now. ‘Coz they’re going off of what they think the teams are worth never mind the teams are valued like tech stocks and aren’t worth that at all doesn’t matter the only thing that matters is what is my share price tomorrow and that’s what they’re going to base this decision on.”This seems like a long road of barrier after barrier for the American team, which has displayed every intent to show they are prepared for F1. A significant example of the same is their latest recruit.
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Ex-Formula 1 technical chief Pat Symonds to join Andretti-Cadillac
The FOM rejected Andretti’s application to join F1 in January; the American outfit continues to push to join the championship in the future and, in turn, display intent in every possible way. Their latest move includes the recruitment of Pat Symonds (Ex-F1 technical officer). He is currently serving a period of gardening leave from F1 before joining Andretti. It is not clear on exactly what date Symonds will join the outfit. Nevertheless, the team is super excited to have him onboard.
via Getty
JEREZ DE LA FRONTERA, SPAIN – FEBRUARY 07: Mario Andretti, with his son Michael Andretti of the USA, look on as Marco Andretti, the son Michael, tests for Honda during Formula One testing at the Circuit De Jerez on February 7, 2007 in Jerez de la Frontera, Spain. (Photo by Mark Thompson/Getty Images)
“We couldn’t be more excited to welcome Pat to the Andretti family,” said Andretti CEO Michael Andretti. “Pat’s keen understanding of aerodynamics, vehicle dynamics, and Formula 1 power units will be instrumental as we continue to build a competitive team. I believe his expertise has been pivotal in shaping the narrative of Formula 1, and his vote of confidence in joining our effort speaks volumes. I’m really happy with this next step as our work continues at pace.”
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Do you think Andretti will join the F1 grid anytime soon? Let us know in the comments section.
