An entry process opened by the FIA has been under way for several months, with Andretti the highest profile of the candidates that applied to join the grid in 2025 or 2026.
Paddock sources have suggested that the American team’s bid is close to passing the first step, with confirmation of approval from the FIA expected as early as next week.
If that happens, the matter then goes to F1 CEO Stefano Domenicali as the commercial rights holder for further debate, a process that is expected to take several months.
Current teams have consistently expressed their opposition to a new entry due to the potential impact on their business models.
Under the terms of the current Concorde Agreement, negotiated during the COVID-hit 2020 season, any new entrant has to pay a $200m dilution fee.
Each existing team would receive $20m which is supposed to represent any prize money losses generated by the addition of an extra team.
However, the $200m figure was informally influenced by the previous cost of buying a team – and specifically Williams, which was sold at the time.
Source: Autosport