The US-based Andretti team’s bid to enter Formula 1 with General Motors’ Cadillac brand has been approved by motorsport’s governing body, the FIA. Andretti Formula Racing were the only team approved by the FIA out of four candidates who made it to the second phase of the new teams process. The FIA did not reveal the identities of the other teams who were assessed in the second phase of the process, but they are widely known within the sport. The existing 10 teams have made clear their opposition to any new entrants. Estimates put the value of leading teams at close to $1bn (£830m).

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