![]() Three months ago, Formula 1 CEO Stefano Domenicali said Michael Andretti was “not smart” when he labeled the current teams greedy over their desire to protect their financial interests. When asked if it was going to happen, he replied, “It better.” It’s going,” Andretti said initially when asked at Darlington (S.C.) Raceway on Friday. "It makes total logical sense to say that the 10 teams or 10 franchises have an intrinsic value and you dilute that by increasing the number," said Red Bull principal Christian Horner.Mario Andretti initially had only a few words when asked how his son Michael Andretti’s efforts to field a Formula 1 team were progressing, but his frustration with the process became more apparent as he talked. ![]() The problem with that for the current teams is that they currently split the prize fund among the 10 entries, and so an 11th team - without a change in the structure - would essentially be costing them money, With none of the 10 franchises up for sale, Andretti has to persuade the sport to allow an 11th team. What's the issue with F1 adding 11th team? British-based Williams is owned by US-based private investment firm Dorilton Capital. The outfit is the sister team of NASCAR's Stewart-Haas Racing but has no American racer and uses a car built in Italy by Dallara. ![]() Haas is owned by American Gene Haas and is headquartered in North Carolina. Ted Kravitz takes a look back at the inaugural Miami GPĪndretti's plan is for the team to have American drivers and an American-built car, more American than F1's existing US presence.
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