After Haas, second American team looks to enter F1: 'Not at that point yet'

In recent years the popularity of Formula 1 in America is increasing. With Haas as an American team and COTA as organiser of the American Grand Prix there is enough for the American fans to look forward to. Within a couple of years, a second American team might just make its entry into the top of motorsport.

Former F1 driver Michael Andretti is researching the possibilities of buying a Formula 1 team, reports RACER. Andretti tells the medium that there is still a lot of work to be done in order to take concrete steps. "It would be great, but there is still a long way to go before it actually happens. If the right opportunity comes along, we will really go for it. We're not at that point yet.”

Putting together a new team ruled out

According to RACER, there have been talks with more than one team, including Gene Haas, owner of Haas F1 Team. Those talks were never really in-depth, so besides Haas there are two teams where Andretti probably has a chance, Alfa Romeo and Williams. Both teams have been bought by investment companies and could be interesting for the American.

Setting up a completely new team doesn't seem to be Andretti's plan, also because the new agreement between the teams, the Concorde-Agreement, reads that each new team has to pay a buy-in fee of 200 million dollar to the existing teams, where that amount will be divided between them.