Method 1 has reached an settlement in precept with Common Motors to deliver Cadillac to the F1 grid in 2026 as its eleventh staff, however with out the Andretti title on the entry.
The transfer follows the rejection by F1 of GM’s unique bid in January, which was partnered with the Andretti International group. That led to battle between F1 and staff figurehead Michael Andretti over the Andretti household taking the case to US Congress, which led to an antitrust investigation by the Division of Justice.
However Michael Andretti introduced he was stepping again from the staff in September, permitting Group 1001 CEO Dan Towriss to take over management.
Towriss is now utilizing TWG International, a holding firm led by businessman and philanthropist Mark Walter, because the ‘companion’ for the GM entry – successfully the identical staff below an Andretti-less title. Walter is the CEO of Guggenheim Capital, a diversified monetary providers agency with greater than $340 billion in belongings below administration. In response to Forbes, Walter is value $6 billion.
Method 1 said it was “happy to maneuver ahead with this utility course of and can present additional updates in the end” after the entity “achieved operational milestones and made clear their dedication to model the eleventh staff GM/Cadillac, and that GM will enter as an engine provider at a later time”.
It’s understood that GM will construct its personal F1 engine for the 2028 season, which means it would require a buyer energy unit from 2026.
“With Method 1’s continued progress plans within the US, we now have all the time believed that welcoming a powerful US model like GM/Cadillac to the grid and GM as a future energy unit provider might deliver further worth and curiosity to the game,” stated Greg Maffei, President and CEO of F1’s proprietor Liberty Media.
“We credit score the management of Common Motors and their companions with important progress of their readiness to enter Method 1. We’re excited to maneuver ahead with the applying course of for the GM/Cadillac staff to enter the Championship in 2026.”
Mark Reuss, President of Common Motors, said: “As the top of motorsports, F1 calls for boundary-pushing innovation and excellence. It’s an honor for Common Motors and Cadillac to hitch the world’s premier racing collection, and we’re dedicated to competing with ardour and integrity to raise the game for race followers around the globe.
“This can be a world stage for us to exhibit GM’s engineering experience and know-how management at a wholly new stage.”
Towriss, who’s CEO of TWG International’s motorsport enterprise, added: “We’re excited to companion with Common Motors in bringing a dynamic presence to Method 1. Collectively, we’re assembling a world-class staff that can embody American innovation and ship unforgettable moments to race followers around the globe.
“We respect the FIA and FOM’s help of our utility and their recognition of the worth we are able to deliver to the championship.”
On social media, Michael Andretti confirmed no onerous emotions and wrote: “The Cadillac F1 Workforce is made up of a robust group of people who have labored tirelessly to construct an American works staff. I’m very pleased with the onerous work they’ve put in and congratulate all concerned on this momentous subsequent step. I shall be cheering for you!”
Mario Andretti, the final American F1 world champion in 1978, will function a director on the staff’s board.
