A Cadillac V-Series.R Hypercar at the 24 Hours of Le Mans. Photo: photosport
A General Motors-backed Cadillac entry will become Formula One's 11th team next year after securing formal approval from the commercial rights holders and governing FIA.
Formula One and the FIA confirmed in a joint statement that the necessary sporting, technical and commercial assessments had been completed.
The various parties had reached an agreement in principle last November after Formula One had rejected a previous bid under the name of Andretti that the FIA had approved.
"As we said in November, the commitment by General Motors to bring a Cadillac team to Formula One was an important and positive demonstration of the evolution of our sport," said Formula One chief executive Stefano Domenicali.
"I want to thank GM and TWG Motorsports for their constructive engagement over many months and look forward to welcoming the team on the grid from 2026 for what will be another exciting year for Formula One."
FIA president Mohammed Ben Sulayem said the expansion to 11 teams was a "transformative moment" and an important milestone for the championship.
"GM/Cadillac brings fresh energy, aligning with the new FIA 2026 regulations and ushering in an exciting era for the sport," he added.
"The Cadillac Formula One team's presence in the paddock will inspire future competitors and fans."
Formula One is entering a new engine era in 2026, with significant chassis regulation changes also, and Cadillac has a deal in place to use Ferrari engines until General Motors can produce their own.
Cadillac has also appointed Briton Graeme Lowdon to lead the team and has established a European headquarters at Silverstone.
"This announcement is the next step in getting on the grid and continues our efforts towards building a full-works team," said Lowdon.
"Through the long and thorough application process, we have never lost pace in our planning or our belief in the mission. We can't wait to go racing and give fans a new team to cheer for."
Ecclestone sells car collection
Meanwhile, Bernie Ecclestone has sold his large car collection to Red Bull heir Mark Mateschitz for an undisclosed sum in a deal that will see them put on public display, the former Formula One supremo confirmed.
The Formula One boss Bernie Ecclestone. Photo: PHOTOSPORT
Mateschitz, 32, is the son of the late Austrian Red Bull billionaire Dietrich, who was a team founder and owner and personal friend of Ecclestone.
The 69 cars date from the start of the Formula One championship in 1950 and include examples raced by champions Alberto Ascari, Mike Hawthorn, Niki Lauda, Nelson Piquet and Michael Schumacher.
British media reports have valued them at an estimated 500 million pounds ($NZ1.13 billion).
"They've gone to a good home, which is the real thing I was interested in making sure," Ecclestone, 94, told Reuters by telephone from Switzerland.
"They'll present them somewhere, into a museum so people can have a look at them for a change which has never happened before.
"It's good. I'm more than happy that's where they've gone. I wouldn't have sold them to (just) anyone unless I knew where they were going to finish up. They're going to build something like a museum and that's where they'll be."
Ecclestone said he had interest from all over but largely from "the wrong people".
The Daily Mail newspaper quoted Mateschitz as saying the collection would be "carefully preserved, expanded over the years, and in the near future it will be made accessible to the public at an appropriate location."
The cars have been stored at a secure hangar at Biggin Hill airfield in southern England and have not been publicly accessible, other than for occasional individual outings at races.
One highlight is a controversial Brabham BT46B "fan car", named after the huge downforce-generating fan in the back, that Austrian Lauda raced to victory in Sweden in 1978 before it was withdrawn.
The Ferraris include the 375F1 that Ascari drove to victory in the 1951 Italian Grand Prix, Hawthorn's title-winning 1958 car and Schumacher's 2002 car.
"After collecting and owning them for so long, I would like to know where they have gone and not leave them for my wife to deal with should I not be around," Ecclestone said when it was first announced in December that the cars were for sale.
- Reuters
