Since taking control of Team Green in 2003, first partially (Andretti Green Racing) and since 2010 as sole owner of Andretti Autosport In the IndyCar Series, Michael Andretti has tirelessly searched for a way to make an indelible mark as a team leader, and for the team to become a great superstructure of American and international motorsport, in the style of Team Penske or Chip Ganassi Racing in different stages. His latest and most ambitious plan would go through Everest that he himself could not finish climbing as a pilot, Formula 1.
According exclusive information from RACER, Andretti has started the investigations to acquire an existing Formula 1 team, an operation that would lead to Andretti Autosport’s entry into the top world category. The interesting thing about this initiative is that, according to the same information, the priority objective It does not happen by taking over the place of the existing American team on the grid, Haas F1 Team, despite the multiple difficulties they have been going through in recent years at a competitive and economic level. Although both parties would have contacted about it, the talks have not gone beyond that initial contact.
Therefore, the focus would go on reaching an agreement with one of the two investment groups that own Formula 1 teams currently, Longbow Finance and Dorilton Capital, something that does not seem impossible in the medium term, but it is complicated in the short term. In 2016, Longbow acquired the assets of Sauber F1 Team, a structure that since 2019 continues in Formula 1 as the operational division of the Alfa Romeo team. The brand renewed its agreement on a multi-year basis this summer, but the terms of the agreement will be reviewed each year. On the other hand, Dorilton got the hang of it last year Williams F1but with the promise of investing heavily and returning the team to competitive status, rather than reselling it to the highest bidder.
The reasoning that Andretti wanted to take over any of these teams, or with other possible openings such as AlphaTauri, instead of entering as formation number 11, has its raison d’être in the latest Concord Accord, which essentially made the 10 existing teams franchises. Therefore, a new participant who wanted to join the grid would have to pay an amount of 200 million dollars in concept of ‘registration clause’, which would be distributed equally among its competitors to increase the value of their seats and compensate for the loss of income that would mean adding an eleventh mouth to the table.
In his 19 seasons as a team owner at IndyCar, Michael Andretti has celebrated 66 wins, five of them in the Indianapolis 500 (2005, 2007, 2014, 2016 and 2017), in addition to four drivers’ titles (2004, 2005, 2007 and 2012). His most famous adventure internationally has been his involvement in Formula E since its first season in 2014, where it will continue with the BMW powertrain after concluding its three-year stint as the German giant’s factory team. In turn, Andretti recently confirmed that it will be one of many new entrants to the Endurance Hypercar class in 2023, acquiring an LMDh with a view to the IMSA championship and the 24 hours of Le Mans.