šŸŽ Andretti is Approved

What's next for the Andretti F1 bid?

Good morning! Weā€™re one step closer to seeing an eleventh team on the grid in F1! But with all of the approvals, partnerships and funding sources - just how many more steps are there? Either way, Andrettiā€™s F1 hopes are still alive but now faces itā€™s toughest challenge yetā€¦

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Next Steps for Andretti F1 Bid

Andrettiā€™s F1 bid seems to have entered the final lap as the FIA has given a nod, yet a commercial deal with FOM stands as the final gatekeeper. šŸ’¼ Existing F1 teams, cool and calculated, arenā€™t rolling out the welcome mat just yet. ā€œGrows the pieā€ is the sentiment ā€“ Andretti must not just join but significantly amplify the sportā€™s value. šŸ’°

"Thrashing out a deal with FOM will be tough," warns the atmosphere, echoing the sentiments of a $200m anti-dilution fee and whispers are starting to grow of a hike to $600m. Existing teams are protectors of their terrain, sceptics of newcomers.

Andretti, however, isnā€™t a stranger to the grandeur of motorsports, with GMā€™s Cadillac brand lending its charm and clout. An American essence, šŸ‡ŗšŸ‡ø coupled with technical prowess, šŸ”§ seeks to argue Andrettiā€™s case of not just participation, but enrichment to F1.

ā€œGrows the pieā€ is more than a phrase ā€“ itā€™s a ticket to the grand stage, where performance and spectacle blend in high-octane harmony. Existing players watch, arms folded, as Andretti, armed with approval from FIA, wrestles with FOMā€™s criteria and the unwavering gaze of ten teams. A dance of dollars, value, and spectacle - the final lap of a bid that could shift gears for F1. šŸŽļøšŸ’Ø

Alpineā€™s Financial Finesse

In 2022, Alpine F1 turned heads, not just on the track, but in the financial sheets, posting a Ā£26.2m profit šŸ’°. Thanks to a partnership with new title sponsor BWT and clinching fourth place in the world championship, the team's income accelerated by 23.6% to Ā£249m. "Whilst operations have been impacted by inflation, a disciplined approach to cost control has led to an improvement in operating margin of 37%," highlighted in the annual financial release.

Yet, not all gears shifted smoothly. Despite a boost in operating profit, the post-tax figure dwindled by Ā£2.9m from the previous year. Renault's marketing wallet for the team also slimmed down from Ā£60.6m to Ā£42.2m.

In the expansion lane, Alpineā€™s team grew from 820 to 871 personell, contrasted with close rival Aston Martinā€™s 504. This growth was not just in numbers but in diversity, with increased revenue streams and Hollywood star Ryan Reynolds jumping on board as a shareholder. "A second year of financial regulations coupled with a disciplined approach has led to a profit of Ā£26.2m." As Alpine races ahead, it's clear that fiscal discipline and strategic partnerships are their co-pilots.

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