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F1 CEO Says Michael Andretti ‘Not Smart’ to Call Formula 1 Teams ‘Greedy’

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Formula 1 CEO Stefano Domenicali says Michael Andretti was “not smart” by labelling current teams greedy over their desire to protect their financial interests.

Andretti is striving to join Formula 1 as a new entrant, potentially as early as 2025, and has received the support of General Motors.

Formula 1’s governing body, the FIA, has opened an application process for prospective new entrants and expects a decision to be made this summer.

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Stefano Domenicali

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The majority of the existing teams have been resistant to introducing new teams due to the impact this would have on their share of the prize fund.

In an interview with Forbes last month Andretti referred to the “greed” of those teams but F1 chief executive Domenicali believes that, combined with Andretti’s vocal nature across the past year, was unwise.

“I know them very well, Mario and Michael, for many years,” Domenicali told Sky Sports. “In think we need to respect everyone; Mario and Michael were very vocal about their will to enter Formula 1, in my view (it is) not smart to say the teams are greedy to protect themselves.

“There are other (parties), much less vocal, that would like to come to Formula 1, so there is a process to respect and we will, together with the FIA, to respect the process, and if all the elements are there they will be very welcome.”

Domenicali said he had “discussed (the situation) very openly (with the Andrettis) and I said to them I would have acted in a different way.”

“We don’t have to overreact because someone is pushing the system. I believe today what is more vital is to protect the growth of the sport and the sustainability of the teams who have invested in times where things were different: the value for the pure commercial point of view is different to a couple of years ago.

“So the process will be done seriously, in the right way, and no one can put that with the anxiety to take the right decision because someone is shouting and some others are less shouting.”

Domenicali added that Formula 1 and FIA “needs to be prudent” when assessing prospective new teams and stressed “it may seem this is a personal negative attack on Andretti—but this is not the case.

“We need to be serious and professional in evaluating all the elements.”

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