General Motors to Become F-1 Eleventh Team Under Cadillac Brand with $450 Million Entry Fee

US automotive giant General Motors has reached an agreement in principle and submitted an application to participate in Formula-1 in 2026 with its Cadillac brand. 

General Motors said in a statement on Monday that GM and its partner, US-based TWG Global, have committed to naming the new team after its premium Cadillac GM brand and to building its own engine ‘at a later date’. 

The new team will be a joint effort between GM and TWG, with other key investors including Dan Thoriss, owner of the US-based Andretti Global team, and TWG's Mark Walter.

The Cadillac team will also need to buy a customer engine from an existing supplier to close the gap before its own engine is finished, which is not expected to happen until 2028. Negotiations are not complete, but Ferrari is the current favourite. The Italian team will have spare stock from 2026 as a result of one of their two current customer teams, Sauber, being transformed into an official Audi entry for which the German car company is building its own engine.

In turn, F1 said that the application process will be ‘moving forward’. During this year, they reached operational milestones and made clear their commitment to brand the eleventh GM/Cadillac team, and that GM would enter as an engine supplier at a later date. 

BBC Sport reports that GM and TWG will pay a membership fee of US$450 million.

The participating teams receive approximately 63% of F1's revenue between them. This fee will be divided among the existing 10 teams as compensation for the loss of prize money due to the fact that Formula 1 revenue is now divided into 11 parts instead of 10.