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Michael Andretti has labelled Formula One team owners “greedy”, accusing them of putting their self-interest ahead of the sport.
Andretti reckoned that was the reason why there’s been a tepid reaction to his bid to bring an all-American team to the sport.
Formula One owners have expressed indifference to the announcement last week that Andretti Global and General Motors brand Cadillac were joining forces in a bid to become the sport’s 11th team.
Andretti, who has been doggedly pursuing an F1 team for several years, hit back on Tuesday in an interview with Forbes, putting the lukewarm reception down to greed.
“It’s all about money,” Andretti told Forbes.
“First, they think they are going to get diluted one-tenth of their prize money, but they also get very greedy thinking we will take all the American sponsors as well.
“It’s all about greed and looking at themselves and not looking at what is best for the overall growth of the series.”
An all-American team backed by General Motors with an American driver would seem an attractive opportunity for F1, which has been making a push into the US market, with three races (Miami, Austin and Las Vegas) to be run this season.
But a major road block is the dilution of the teams’ share of the revenues and a feeling that the $US200 million ($A287 million) entry fee, shared among the existing 10 teams as compensation, now looks too cheap.
Other deep-pocketed groups have also been sniffing around F1 with German sportscar manufacturers Porsche and Honda expressing interest.
The Andretti plan, however, is not without some strong backing.
The head of the sport’s governing body (FIA) Mohammed Ben Sulayem has expressed his support but Formula One’s commercial rights holder and teams have been less enthusiastic.
The process of adding a possible new outfit will follow strict protocols. Even if accepted a new team would not be able to enter before 2026 at the earliest.
Andretti, son of 1978 F1 world champion Mario, has an outstanding record as a team owner and businessman but it is Group 1001 Capital, run by Dan Towriss, that is according to Forbes, supplying the capital investment for the F1 venture.
“Without them, it wouldn’t be happening,” Andretti said. “They are the backbone of the whole thing.
“Our end goal is to be competing for the world championship five or six years down the road.”
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