An official statement has been released by Formula 1 confirming an agreement has been reached for an 11th team to join the grid from 2026.
Andretti Global have been attempting to enter F1 for years now, with their bid late last year initially granted by the FIA, but later received pushback from Formula One Management over concerns about how much value the team would bring to the sport.
Now, one year later, F1 have confirmed that a new General Motors-Cadillac entry bid has been successful, and that an agreement for a new American team to join the grid has been reached following talks at the Las Vegas Grand Prix.
The announcement stated there will be an 11th team on the F1 grid in 2026, named GM/Cadillac, before General Motors support the new outfit at a later date with the production of their own power units.
Following the faltering of the original Andretti bid, CEO Michael Andretti stepped away from the project, and was replaced at the helm by Dan Towriss.
In their official statement, F1 made it clear that 'operational milestones' had been reached since the initial rejection, and that it became clear that the entry bid would be led by the GM/Cadillac name, rather than Andretti.
Outgoing Liberty Media CEO and president Greg Maffei said on the agreement: "With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport.
"We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1. We are excited to move forward with the application process for the GM/Cadillac team to enter the championship in 2026."
Meanwhile, Stefano Domenicali, President and CEO of F1 said: "General Motors and Cadillac’s commitment to this project is an important and positive demonstration of
the evolution of our sport.
"We look forward to seeing the progress and growth of this entry, certain of the
full collaboration and support of all the parties involved."