Motor racing-Potential Andretti entry needs to add value to F1, say team bosses

FILE PHOTO: Andretti Autosport owner Michael Andretti watches cars on the track during qualifying for the Indianapolis 500 at the Indianapolis Motor Speedway in Indianapolis, Indiana, May 19, 2012. The Indianapolis 500 is scheduled to run May 27, 2012. REUTERS/John Sommers II

(Reuters) - Formula One bosses on Wednesday said they would welcome an Andretti-owned entry joining the grid as its eleventh team, but only if it added value to the sport.

Former world champion Mario Andretti last week announced that his son Michael had made an application to the governing FIA to put a third American-owned team, Andretti Global, on the grid by 2024, joining Haas and U.S.-owned British outfit Williams.