Andretti and Cadillac Announce Bid to Enter Formula 1

Andretti Global and General Motors want to create the Andretti Cadillac F1 team. They want it to compete in Formula 1. The FIA is taking formal applications for new Formula One teams. Existing teams are not keen on the idea of bringing in another independent team and paying them $200 million. F2 and F3 teams haven't accepted a new team since 2013. It took three years before Haas F 1 Team was selected and made its racing debut. It's unknown how long it will take to start the formal application process. Once it starts, both the FIA and Formula1 will have to agree to move an applicant forward in the process, as the current rules suggest.