Cadillac F1 is preparing to enter Formula 1 in 2026, but its rumoured $450 million anti-dilution fee is already drawing criticism, with Red Bull advisor Dr Helmut Marko saying it falls short of adequately compensating the existing teams.

Initially, the entry fee for new teams was set at $200 million, but concerns about diluting the prize money pool led to its increase. Despite this, Marko believes Cadillac's payment doesn't reflect the investments current teams have made.

"The payment that Cadillac is making is nowhere near enough to compensate for what we have invested a lot of money in over ten years," Marko told Osterreich newspaper.

However, Marko also acknowledged the positives of the new team joining the sport. "Even if the existing teams don't benefit much from it at first, a name like Cadillac with General Motors in the background is certainly an advantage," he said.

The Cadillac F1 project has evolved since the FIA approved the initial Andretti-Cadillac bid, which was subsequently blocked by F1 owner Liberty Media. Under the new agreement, the Andretti brand has been removed, and General Motors has taken a more prominent role.

While Michael Andretti has stepped back from day-to-day involvement, his father, 1978 world champion Mario Andretti, will serve as a non-executive advisor. Mario described his role to NBC News: "I don't want a specific job per se, where I have to punch in every day. I don't need and want that.

"But I welcome the opportunity to definitely be part of a lot of key decisions. This is my rodeo."

The cars will be designed and built at Andretti Global's new facility in Silverstone, with Mario confirming: "The team is all in, and a lot of work has already been done, believe it or not."

Initially, Cadillac will rely on customer power units for its cars. While Honda was rumored as a supplier, Mario Andretti confirmed Ferrari is currently the preferred option.

"That's not definite yet, but that's the objective. And that's the preference," he said.

Despite earlier skepticism about the project's viability, Andretti emphasized that the team is now on solid footing. "I could go back and bring up events and so forth, but some of it was not very pleasant, and I don't really want to talk about any of that," he said. "All of that is behind us.

"Everyone is happy, including my son. That's the most important part. No one is diminished or suffered."

As for drivers, Mario said the team plans to field a mix of experience and young American talent. "The play at the beginning would be to have one experienced driver—nationality doesn't matter—and then a young American talent. These are the objectives at the moment," he explained.

Colton Herta is a leading candidate to represent the team in its inaugural season. The addition of Cadillac has also been welcomed by drivers like Valtteri Bottas and Liam Lawson, who have spoken positively about the creation of two new F1 seats.

"They said it all," Mario said. "There are more drivers available than teams at the moment. Ten teams seems a lot, but there's a lot more drivers, a lot more talent out there."