Andretti Global is a racing team with its fingers in damn near every racing series in the world. The company runs IndyCar, Indy NXT, Formula E, and Extreme E efforts on its own, and partners with other teams for additional efforts in IMSA GTP, Super Copa, and Australian Supercars. It has been campaigning to enter Formula One with Cadillac for a couple of years, thus far without success. The team’s eponymous owner Michael, son of Mario, father to Marco, has been running the enterprise since buying into Team Green in 2002, and taking sole ownership in 2009. According to reports from Sportico, Andretti is “relinquishing his ownership stake in Andretti Global.”
The team is reasonably successful in recent years, though is perhaps spread a bit too thin. The team won a Formula E championship in 2023, and the 2024 Indy NXT championship, though it hasn’t secured the IndyCar title since 2012, and the team hasn’t won an Indianapolis 500 since 2017. It has grown exponentially in recent years, however, as the team is building a brand new $200M headquarters and race shop in Fishers, Indiana. Andretti recently sold a chunk of the company to entrepreneur Dan Towriss and his Group 1001 holding company.
The embattled former racer turned team owner, according to Sportico sources, has been looking for a way to transition from his operational role to a more strategic effort. It would make sense for someone like Towriss, with a business background, to take over the business part, while a racer takes care of the racing bit. Michael’s very vocal public battle with the FIA over his F1 entry denial is likely not helping the company’s case, and perhaps a more level-headed owner will manage to get that job done.
