🏎 Andretti is Approved

What's next for the Andretti F1 bid?

Good morning! We’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, Andretti’s F1 hopes are still alive but now faces it’s toughest challenge yet…

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Next Steps for Andretti F1 Bid

Andretti’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. 💼 Existing F1 teams, cool and calculated, aren’t rolling out the welcome mat just yet. “Grows the pie” is the sentiment – Andretti must not just join but significantly amplify the sport’s value. 💰

"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, isn’t a stranger to the grandeur of motorsports, with GM’s Cadillac brand lending its charm and clout. An American essence, 🇺🇸 coupled with technical prowess, 🔧 seeks to argue Andretti’s case of not just participation, but enrichment to F1.

“Grows the pie” is more than a phrase – it’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 FOM’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. 🏎️💨

Alpine’s Financial Finesse

In 2022, Alpine F1 turned heads, not just on the track, but in the financial sheets, posting a £26.2m profit 💰. 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 £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 £2.9m from the previous year. Renault's marketing wallet for the team also slimmed down from £60.6m to £42.2m.

In the expansion lane, Alpine’s team grew from 820 to 871 personell, contrasted with close rival Aston Martin’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 £26.2m." As Alpine races ahead, it's clear that fiscal discipline and strategic partnerships are their co-pilots.

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