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F1 rejects Andretti entry for now, but door open for 2028
(www.motorsport.com)
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this post was submitted on 31 Jan 2024
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That's a short term view. No team is good in their first few years, minus Brawn. If they entered this year or next they would be able to refine their chassis so they can compete in 2028 when they get GM engines.
The financial argument makes more sense, it's much more difficult to prove that Andretti would grow the business, but with US interest waning it might be the thing that brings people back.