Michael Andretti issues first comment after Cadillac F1 deal

Michael Andretti has shared his first statement after Cadillac announced it has reached an agreement in principle to join the F1 grid.

Andretti's application to join the field was approved by the FIA last year but he fell short of convincing the sport's commercial rights holders.

Despite the setback, Andretti proceeded with plans and opened a factory at Silverstone, recruiting several top engineers - including former F1 chief technical officer Pat Symonds.

Andretti also drew the support of General Motors (GM), Cadillac's parent company, who pledged to join the grid later this decade as a power unit supplier to Andretti.

In recent weeks, Michael Andretti confirmed he had stepped away from ownership control of Andretti Global, with Dan Towriss taking over the reins.

On Monday evening, F1 and GM confirmed they had reached an agreement in principle to form the grid's 11th team.

Michael will have no involvement with the project - however his father Mario, who is the 1978 F1 champion, will serve as a director on the team's board.

Taking to social media shortly after the announcement, Michael Andretti voiced his support for those working within the squad.

“The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team,” he said. 

“I’m very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!”