Michael Andretti has applied to F1's governing body, the FIA, in a bid to claim a place on the grid from the 2024 season, his father Mario has stated.
After a recent attempted takeover of the Alfa Romeo team fell through, the American now appears to be focused on securing his own, fully-fledged entry.
"Michael has applied to the FIA to field a new F1 team starting in 2024," wrote 1978 World Champion Andretti on Twitter.
"His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA's determination."
RacingNews365.com has confirmed the validity of the message with the Andretti camp.
What happened with the failed Alfa Romeo takeover?
Mario Andretti recently explained to RacingNews365.com that his son was "not giving up" on securing an F1 entry, following Andretti Autosport's failed attempt to buy a majority stake in the Sauber-run Alfa Romeo F1 operation.
The potential takeover towards the end of last year was all but confirmed, with Andretti looking to acquire an 80 percent share of Islero Investments, the current owner of Sauber, which operate the Alfa Romeo F1 team.
However, the deal was scrapped before October's United States Grand Prix, and it emerged from the Andretti camp that issues regarding the control of the team ended negotiations, as opposed to financial reasons.
A potential second US-led team in F1
If his new entry bid is successful, Andretti would bring a second United States-led team to the current F1 grid – following on from Haas.
F1 has enjoyed significant growth in the US in recent years, thanks in part to the success of the Netflix documentary series Drive to Survive.
After arriving on the calendar in 2012, the Circuit of the Americas has become a firm fixture, recently signing a new five-year deal running through 2026, with Miami also set to host a race this year and a third North American event - potentially in Las Vegas - due to follow.
F1's latest Concorde Agreement, which expires in 2025, introduced a $200m fee for any new entrants. That money would be split between the existing teams, protecting their revenues with a fairer distribution of commercial rights income.
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