The FIA has announced plans to welcome new teams into Formula One, opening the doors for Andretti Global to finally make a bid to enter the World Championship by 2024, after two years of frustrating negotiations by the Americans. While an Expression of Interest process doesn’t necessarily lead to a new team being accepted into Formula One, initiating such a process shows the Federation is opening the doors of Grand Prix racing as long as the team or teams bidding to enter the sport provide solid financial and technical guarantees they’ll be a good addition to the sport. But, in fairness to the three teams that folded, they’d entered Formula One based on false promises and were never prepared to compete without a budget cap. For now, though, everyone will still have to wait for the Expression of Interest process to be open and only then we will know how many teams apply to the FIA.

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