Formula One is poised to have an 11th team on the grid in 2026 after Cadillac’s proposed entry was rubber-stamped by the sport’s bosses.

Cadillac, a division of American motoring giant General Motors, is expected to be powered by Ferrari before it develops its own engines.

The move comes after F1 initially rejected the bid which was headed up by Andretti – owned by former F1 driver Michael Andretti, son of 1978 world champion Mario Andretti – earlier this year. The Andretti name has since been dropped from the proposal.

And while it is understood that Mario will be handed an ambassadorial role in the project, Michael is no longer involved.

A statement from F1 on Monday evening read: “Formula One announced today that it has reached an agreement in principle with General Motors (GM) to support bringing GM/Cadillac as the 11th team to the Formula One grid in 2026.

“Formula One has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula One in January 2024.

“Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the eleventh team GM/Cadillac, and that GM will enter as an engine supplier at a later time.

“Formula One is therefore pleased to move forward with this application process and will provide further updates in due course.”

The other 10 teams had largely been against the introduction of a new outfit because of the dilution of prize money.

F1’s presence in the United States has increased dramatically in recent seasons following the success of the sport’s Netflix series, Drive to Survive, as well as the growing number of races in America.

The announcement comes less than 48 hours after the Las Vegas Grand Prix – which after Miami and Austin is the third US race on the calendar.

FIA president Mohammed Ben Sulayem, who has called for more teams and clashed with F1 over Andretti’s initial proposal, said: “General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners.

“I am fully supportive of the efforts made by the FIA, Formula One, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application to bring a GM/Cadillac branded team on the grid for the 2026 FIA Formula One World Championship.

“All parties, including the FIA, will continue to work together to ensure the process progresses smoothly.”