F1 confirm agreement over NEW team in shock statement

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F1 confirm agreement over NEW team in shock statement

Formula 1 will have a new team on the grid

Sam Cook Digital Journalist

Sports Journalist who has been covering motorsport since 2023

Monday 25 November 2024 19:42 Updated: 17:30

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Formula 1 have released an official statement confirming that an agreement has been reached for an 11th team to join the F1 grid from 2026.

Andretti Global have been pushing for an F1 entry for a number of years, with their bid late last year initially granted by the FIA, but pushed back by Formula One Management over concerns about how much value the entry would bring.

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WATCH: Cadillac F1: Why Formula 1 finally accepted an 11th team

Now, a year on, F1 have confirmed that a new General Motors-Cadillac entry bid has been successful, and that an agreement has been reached following talks at the Las Vegas Grand Prix.

It means that there will be an 11th team on the F1 grid in 2026, named GM/Cadillac, before General Motors support the new outfit at a later date with the production of their own power units.

GM/Cadillac are set to join the F1 grid in 2026

F1 bosses revealed a joint statement on the news

GM/Cadillac to join F1 grid

Following the faltering of the original Andretti bid, CEO Michael Andretti stepped away from the project, and was replaced at the helm by Dan Towriss.

In their official statement, F1 made it clear that 'operational milestones' had been reached since the initial rejection, and that it became clear that the entry bid would be led by the GM/Cadillac name, rather than Andretti.

Outgoing Liberty Media CEO and president Greg Maffei said on the agreement: "With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport.

"We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1. We are excited to move forward with the application process for the GM/Cadillac team to enter the championship in 2026."

Meanwhile, Stefano Domenicali, President and CEO of F1 said: "General Motors and Cadillac’s commitment to this project is an important and positive demonstration of the evolution of our sport.

"We look forward to seeing the progress and growth of this entry, certain of the full collaboration and support of all the parties involved."