It really looks like the Andretti F1 Team's failure to join the racing circus was not due to the project, but rather to a certain person.
During the Las Vegas Grand Prix, several leading international magazines are reporting that an agreement is close to being reached regarding the announcement of the new team. However, it is not in the form we had expected. It seems that Michael Andretti's strong push was not liked by many, but his withdrawal could pave the way for a new American team. The fact that one of Andretti's main supporters was Mohammed bin Sulayem, who is famously bad at maintaining a relationship with... everyone, could also have interfered with the formula.
But now it looks like General Motors has taken over, and they would be relying on Andretti's existing infrastructure. And more importantly, they have an accepted status with the other Formula 1 participants. Their European headquarters in Silverstone are already in place, their team of professionals is well-established, and according to the plans, Cadillac and Andretti would also be present, but with a smaller presence.
Meanwhile, GM has already started its own F1 engine program, with reports suggesting that they will be launching their first working in-house powerplant in 2028. This would see them debut as a partner team in 2026, with Ferrari or Honda likely to be considered. All of this sounds very exciting, and considering recent times, we are now the closest we have come to turning another Formula 1 team from a dream into a reality.