Michael Andretti to relinquish ownership

[rfuerst911sc]

Michael Andretti to relinquish ownership of Andretti Global . I wonder if this has anything to do with being denied F1 entry ?

https://www.sportico.com/leagues/motorsports/2024/michael-andretti-exit-ownership-andretti-global-1234798932/

[greglepore]

I'm sure there's more to this story. The guy taking over supposedly has 250 million (!) invested in the team ( he's Gainbridge etc) and probably not happy that there was no delivery on the F1 promises etc.
I hope this isn't the end of the Andretti legacy in motorsports.

[Por_sha911]

Maybe Michael made the ultimatum that "Marco drives or I quit" ?

[rfuerst911sc]

I agree there is more to the story and more will come out as time passes . I think for fans the question is how will this affect the various race teams under the Andretti Global umbrella . And does this news change the decision to try and join F1 .

[CurtEgerer]

It was odd a few weeks back when Cadillac announced that they were switching their IMSA GTP program over to AndrettiWTR ... there was no mention of Andretti, just Wayne Taylor Racing. The partnership is still there, they just decided to not use the Andretti name. Some explained this as honoring WTR's past successes with Cadillac.

[CurtEgerer]

Also interesting that McLaren's Zak Brown just joined the board of directors for Andretti Acquisition Corp.

[rfuerst911sc]

Originally Posted by CurtEgerer

Also interesting that McLaren's Zak Brown just joined the board of directors for Andretti Acquisition Corp.

Yeah I read that also .

[Racerbvd]

Was he friends with diddie

[Skytrooper]

I am of the thought that Andretti probably bit off more than it can chew, and has entered a damage control phase. I do not see this as good for Andretti motorsports.
Possibly there is more going on behind the scenes, but I have yet to see a team come back whole from something of this nature.

[greglepore]

Originally Posted by CurtEgerer

Also interesting that McLaren's Zak Brown just joined the board of directors for Andretti Acquisition Corp.

Actually, its a second SPAC -Andretti Acquisition Corp II- looks like a new start, which may explain in part the other move.

[Captain Ahab Jr]

Maybe they've milked their F1 cash cow dry

How to make a small fortune in F1, start with a large one

[CurtEgerer]

It may be this simple. He's 62. He's been in the game since he could walk. It's time to step back and relax a bit. He's tired of it. People tend to make big changes when they're sick & tired of being sick & tired.

michael-andretti-explains-decision-behind-restructuring-of-andretti-global

[rfuerst911sc]

As Curt stated above , it may just be Michael simplifying his life .

https://www.planetf1.com/news/michael-andretti-global-restructuring

[greglepore]

While I'd like to believe that, here is Marshall Pruett's take

"As for why, the team, and Andretti, and Towriss, are working hard to present this as a happy and welcome development. I don’t buy it. To push this hard, and to get this close to restoring the team’s greatness in IndyCar and to getting the nod to make it into F1 as an entrant, and then all of a sudden, this is the time to step away? Nobody I’ve spoken to believes this went down in the gosh-and-golly manner it’s being sold.
I’ve heard some interesting theories floated from F1 insiders about Cadillac wanting to move forward without the Andrettis — but not without Towriss and his giant funding via the Andretti Global team he controls — with its desired F1 program, and this is the expression of that organizational play. We’ll see what the future reveals."