Michael Andretti is still pursuing an entry into Formula 1 following his unsuccessful attempt to purchase Sauber, calling the series "the ultimate racing experience".
Advert | Become a Supporter & go ad-free
The 59-year-old IndyCar champion and ex-F1 racer said he was "48 hours away" from concluding a deal earlier this year to buy the team which runs the Alfa Romeo-branded entry in the world championship. He previously made a bid to take over Force India when it went into administration in 2018. The team was sold to Lawrence Stroll and now competes as Aston Martin.
Andretti runs teams in IndyCar, Formula E and Extreme E but he told the Racer/Epartrade Online Race Industry Week a move into Formula 1 still appeals to him. "It's the biggest racing series in the world and I think it could just do wonders for our brand," he said.
"Internationally obviously, we are with Formula E and Extreme E. To do Formula 1 is the ultimate. I've always had interest in that."
However as new team entrants are, from this year, required to pay a $200 million anti-dilution fee , and there are few opportunities to buy one of the existing teams, Andretti admitted opportunities for him to enter the series are scarce.
"It was really, really disappointing that [the Sauber] deal didn't come together," he said. "We were literally 48 hours away from getting the deal done at that time as we thought.
"I still very much would like to do it, opportunities are becoming less and less, teams aren't really for sale right now. We have to see what happens in the future.
"There's still interest. I love F1, it's the ultimate racing experience, and for our brand would be just huge, it just takes us to the highest level you can be in."
Advert | Become a RaceFans supporter and go ad-free
2021 F1 season
- New F1 team would need to offer $1billion, claims Toto Wolff
- Andretti reveals details of F1 team plan as ‘clock ticks’ on FIA call
- Mercedes and Red Bull fears over Andretti threat to Formula 1 supremacy
- Toto Wolff's 'significant' Mercedes fears answered by Andretti - 'Keep it interesting'
- Tost says ‘no’ to Andretti entry unless conditions met
- Michael Andretti Officially Submits American Formula One Team Plans: Report
- ‘No wonder establishment are worried’ about Andretti
- Wolff says Andretti will need to prove worth to join F1
- Andretti left surprised by F1’s frosty reception
- Paddock Diary: Barcelona pre-season testing · RaceFans
- Russell sets new benchmark after five red flags on Friday morning · RaceFans
- Banned: Gas turbine engines · RaceFans
- McLaren end win drought after first lap crash · RaceFans
- Norris facts: 12 things you should know about McLaren's future F1 driver · RaceFans
F1 team entry "would do wonders for our brand" - Andretti · RaceFans have 495 words, post on www.racefans.net at November 30, 2021. This is cached page on Auto News. If you want remove this page, please contact us.