The Andretti Cadillac Racing entry is the only team to get the green light from the FIA after failed bids from the likes of Rodin Cars, Hitech and Lky Sunz.
While the FIA have given Andretti the green light, they still need the approval of F1‘s management which will likely require some backing from the 10 teams.
Total-Motorsport.com understands the majority of the grid do not want a new team, so the championship prize fund is not diluted.
“Andretti Cadillac is honoured that the FIA has approved Andretti Formula Racing’s Expression of Interest for the FIA Formula One World Championship,” read a statement from Andretti.
“We appreciate the FIA’s rigorous, transparent and complete evaluation process and are incredibly excited to be given the opportunity to compete in such a historic and prestigious championship.
“The formation of this distinctly American team is an important moment of pride for all our employees and fans.
“We feel strongly that Andretti Cadillac’s deep racing competencies and the technological advancements that come from racing will benefit our customers while heightening enthusiasm for F1, globally
“We look forward to engaging with all of the stakeholders in Formula One as we continue our planning to join the grid as soon as possible.”
Andretti could join F1 as soon as 2025, but any entry is more likely for 2026 when the new power unit regulations are introduced.
In 2026, Audi will join the grid as they take over Sauber, while Red Bull will partner with Ford. Honda will also return as a fully fledged power unit manufacturer with Aston Martin.