-
Stocks climb as oil prices retreat
-
'Gen Z has risen up': Tens of thousands demand better education in France
-
Vstock Transfer Names Securities Industry Veteran Erica Goodstein General Counsel and Chief Compliance Officer
-
$10 Million and Counting: Hola Prime Hits Major Trader Payout Milestone
-
Four Indonesian seamen return home after Somali pirate ordeal
-
UEFA investigate Ireland-Israel tunnel bustup after spitting claim
-
Crisis-striken Haiti postpones elections
-
Djokovic wins China Open and keeps unbeaten record after de Minaur retires
-
Germany arrests ex-spy chief on suspicion of giving secrets to foreign powers
-
Amsterdam's Rijksmuseum hosts 'homecoming' show for Willem de Kooning
-
Djokovic wins China Open after de Minaur retires
-
World Bank forecasts modest growth for Latin America, highlights climate risks
-
IMF warns cost-of-living shocks cause 'lasting deterioration' in affordability
-
'Afraid for my future': Tens of thousands demand better education in France
-
Alcaraz wins Japan Open for first title since injury return
-
Pakistan PM urges Imran Khan supporters to end protest march
-
'We're working to keep football clean', Turkish minister says
-
Alex Bodi își continuă expansiunea: planuri pentru deschiderea unui showroom ALIX LASERS la București
-
FIFA chief Infantino hit by Norwegian double complaint
-
STARTRADER Adds 20 Stock and ETF CFDs to Its 24/7 Trading Range
-
Exiled Catalan separatist leader Puigdemont cleared to return to Spain
-
Bulgaria searches for missing crew after drones hit more Black Sea ships
-
Stock markets climb as oil prices retreat
-
Alcaraz wins Japan Open for first title since return from injury
-
'No future': Thousands mass in France for high school protests
-
India, Qatar, S.Africa among nations who want to host 2036 Olympics
-
Nobel physics prize honours work on 'ghostly messengers' from outer space
-
Muchova squeaks out win over Osaka to reach China Open quarter-finals
-
Bulgaria searches for missing crew after drones hit two more ships in Black Sea
-
Kenya reports first-ever Ebola death
-
Le Pen vows drastic cost savings to prevent French 'default'
-
Tennis world No.1 Sinner's season over due to knee injury
-
'Eats through a straw': French teens wounded in high school protests
-
Yemen's Houthis claim attack on Riyadh airport, deny losing territory
-
Thousands mass in France for high school protests
-
7-Eleven exits India amid mounting competition
-
Moscow denies sanitary measures over plague reports
-
The alleged murder by US marine on Okinawa: five things to know
-
Samoa look to recreate 2022 final run at Rugby League World Cup
-
End of an era as Messi prepares to hang up Argentina boots
-
Asian stocks mostly up after tech-led Wall St record
-
Superstar duo headline strong New Zealand squad for Rugby League World Cup
-
German factory orders plunge as recovery still fragile
-
South Korea warns of possible AI use in banking hacks
-
Coco Gauff calls out online racism following China open video review
-
EU vows AI rules will protect Europeans. Will they?
-
KVB Accelerates Middle East Footprint with Strategic MENA Regional Expansion
-
Myanmar leader to visit Malaysia after migrant returns begin
-
Purple reign: Philippines seeks to keep grip on ube throne
-
Germany's AfD poised to preside over state assembly for first time
Formula One rejects Andretti's bid to join
Formula One announced on Wednesday it had blocked US outfit Andretti's bid to join the circuit, citing concerns over the team's level of competitiveness.
Andretti, headed up by 1978 world champion Mario and his son, former McLaren driver Michael, had applied to become Formula One's 11th team from 2025 or 2026.
"Our assessment process has established that the presence of an 11th team would not, in and of itself, provide value to the Championship," Formula One said in a statement.
"The most significant way in which a new entrant would bring value is by being competitive. We do not believe that the Applicant would be a competitive participant," it added.
Andretti Global is the parent company to Andretti Autosport and other Andretti ventures, with teams currently competing in seven series worldwide.
They are most prominent in the IndyCar Series, in which the team fields four cars.
Since Michael Andretti's involvement, the team has won the Indianapolis 500 five times (2005, 2007, 2014, 2016, 2017) and the overall championship four times (2004, 2005, 2007, 2012).
"While the Andretti name carries some recognition for F1 fans, our research indicates that F1 would bring value to the Andretti brand rather than the other way around," Formula One said.
"The addition of an 11th team would place an operational burden on race promoters, would subject some of them to significant costs, and would reduce the technical, operational and commercial spaces of the other competitors," it added.
Audi is scheduled to enter the series in 2026, while Porsche is also in talks with F1.
There are currently 10 teams in the FIA's premier series, which is seeking to build on its increased popularity in the United States.
The series added a second race in the United States in 2022 in Miami, which joined the race in Austin, Texas, with Las Vegas joining last year.
"We would look differently on an application for the entry of a team into the 2028 Championship with a GM (general Motors) power unit, either as a GM works team or as a GM customer team designing all allowable components in-house," Formula One said.
"In this case there would be additional factors to consider in respect of the value that the Applicant would bring to the Championship," it added.
G.Schulte--BTB