It seems that the Andretti F1 team's entry into the racing circus was thwarted not by a project, but by a certain individual.
During the Las Vegas Grand Prix, several leading international trade magazines reported that a deal to announce a new team was close. But not in the form we had expected. It seems that Michael Andretti's strong effort was not liked by many, but his departure could pave the way for another American team. Another factor that may have played into the equation is the fact that one of Andretti's main backers was Mohammed bin Sulayem, who is known for his bad relationships with... everyone.
But now it appears that General Motors has taken control, based on the existing infrastructure of Andretti. And more importantly, they have a status accepted by other Formula 1 participants. Their European center at Silverstone is already in place, their technical team is taking shape nicely, and the plans would see Cadillac and Andretti appear there, albeit with a less prominent presence.
Meanwhile, GM has already launched its own F1 engine program, and according to reports, the first working in-house powertrain could arrive in 2028. So they could launch as a partner team when they debut in 2026, and Ferrari or Honda could probably be considered. This all sounds very exciting, and considering the recent period, we are now the closest we can get to seeing the dream become a reality in the form of another Formula 1 team.