US car giant General Motors has reached an agreement in principle to enter Formula 1 in 2026 with its Cadillac brand.

A statement on Monday said that GM and its associate, the US throng TWG Global, had committed to name a recent throng after GM’s luxury Cadillac brand and to construct its own engine “at a later period”.

F1 said the application procedure would “shift forward”.

Greg Maffei, president and chief executive officer of F1 commercial rights holder Liberty Media, said: “With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a upcoming power unit supplier could bring additional worth and gain to the sport.

“We capitalization the leadership of General Motors and their partners with significant advancement in their readiness to enter Formula 1.

“We are enthusiastic to shift forward with the application procedure for the GM/Cadillac throng to enter the Championship in 2026.”

Mohammed Ben Sulayem, the president of F1’s governing body the FIA, said: “General Motors is a huge global brand and powerhouse in the OEM (original equipment manufacturer) globe and is working with impressive partners.

“I am fully supportive of the efforts made by the FIA, Formula 1, GM and the throng to maintain exchange and work towards this outcome of an agreement in principle to advancement this application to bring a GM/Cadillac branded throng onto the grid for the 2026 FIA Formula One globe Championship.

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

elder sources in F1 have told BBC Sport that GM and TWG will pay an anti-dilution fee of $450m (£358m) to secure the entry.

This will be split between the existing 10 teams as compensation for their setback of prize money as a outcome of F1’s profits now being split 11 ways rather than 10.

The teams receive between them in the region of 63% of F1’s profits.

This is larger than the $200m anti-dilution dictated by the existing F1 rules, but the contracts between the teams, F1 and the FIA complete after 2025 and are being renegotiated for 2026. The fee is expected to leave up again in the recent deals.

The Cadillac throng will require to buy a customer engine from an existing supplier to plug the gap before its own engine is finished, which is not expected to be before 2028.

Talks have not been completed, but the favourite at the instant is Ferrari. The Italian throng will have a spare supply from 2026 as a outcome of one of their two current customer teams, Sauber, morphing into Audi’s official entry, for which the German car corporation is building its own engine.

The recent Cadillac entry is a revision of the Andretti bid that was rejected by F1 in January.

F1 said at the period that it did not depend the Andretti assignment, which was in collaboration with Cadillac, would add worth to the sport.

This revised bid is viewed differently because it will be GM entering as a throng owner.

The recent throng will be a joint attempt between GM and TWG, with Dan Towriss, owner of US throng Andretti Global, and TWG’s Mark Walter as the other key investors.

Towriss was at last weekend’s Las Vegas Grand Prix working on the recent assignment.

Michael Andretti, who co-founded the throng that bears his name, is no longer involved after stepping down from his role in Andretti Global in September.

The former IndyCar and F1 driver was viewed as a divisive figure who had rubbed people up the incorrect way with what was seen to be his confrontational way to trying to secure an entry.

F1 is facing an investigation from the US department of fairness into its selection to decline Andretti’s initial entry.

Michael’s father Mario Andretti, the 1978 Formula 1 globe champion, is to be involved in an advisory capacity.

The 84-year-ancient said in a post on X: “Feel very lucky that I’ve been able to stick around for this long and do what I adore for so long.

“And the concept that the Cadillac F1 throng wants me around… I’ll assist where I can, a non-executive role with the throng, not involved in day-to-day operations (because I don’t desire a job), but offering advice, encouragement, companionship anywhere I can. I am beyond fortunate.”

GM’s entry will raise the number of car manufacturers building engines for F1 to six, in addition to Mercedes, Ferrari, Ford, Honda and Audi.

Ford, Audi, GM and Honda have all been persuaded to receive part in F1 from 2026 as a outcome of recent engine regulations that boost the role of the hybrid part of the engine to about 50% of the total power output.

Honda, which is in F1 with Red Bull at the instant, had announced plans to pull out, but reversed its selection on the basis of the road-relevance of the recent rules. It has an exclusive supply deal with Aston Martin from 2026.

Ford, Audi and now GM are all recent entrants. Ford is partnering with Red Bull in building a recent engine.

Renault-owned sports car brand Alpine will remain in F1, but is abandoning its engine construct programme and its throng will use Mercedes customer engines from 2026.

“Exciting times ahead with the information of Cadillac joining the Formula 1 grid as the 11th throng in 2026,” said McLaren Racing chief executive Zak Brown.

“Their wealthy history and encounter in automotive innovation and act will no question add a recent dimension to our incredible sport. Looking forward to the competition!”