Alpine driver Fernando Alonso believes an Andretti Global entry would be "the best news" for F1.
The American team, headed by IndyCar legend and former McLaren driver Michael Andretti, has bid to enter the sport from 2024.
Andretti's father, 1978 F1 world champion Mario, broke the news earlier this year and confirmed plans for the team to be run from Andretti Autosport's Indianapolis headquarters, with a separate race base in England.
Andretti Sr had also indicated a formal agreement had been reached with Renault over a power unit deal should the team's entry be approved.
The inclusion of Andretti would take the grid to 22 cars and 11 teams, the most since Manor dropped off the grid at the end of 2016.
Alonso drove for Andretti's IndyCar operation at the Indianapolis 500 when attempting to clinch his second leg of motorsport's triple crown in 2017 [Indy500, Monaco Grand Prix, Le Mans 24 Hours], leading a large portion of the famous race before his Honda engine gave way.
When asked what the team's addition could mean, the two-time F1 champion replied: "Well, sure, it could be a big thing.
"I know Michael very well, I know the Andretti family and they are obviously a big part of motorsport in general and they are legends.
"So if we can have them in Formula 1 that will be the best news, I think for both. Formula 1 would benefit from that and, obviously, Michael and his team will benefit from the sport and from being in Formula 1.
"I think they have the capabilities, the resources, they have the talent to be in Formula 1 and be competitive as well. So I hope this thing comes true in the next few years, and I will follow very closely."