Andretti Hands Control to Towriss After F1 Entry Denial
Sep.30 - Michael Andretti has ceded control of his motor racing empire, Andretti Global.
Famed for its involvement and successes in mainly US-based series including Indycar, Andretti applied to be granted entry to Formula 1 early in 2022, simultaneously ramping up its operations and preparations.
Early this year, despite FIA approval, Liberty Media-owned Formula 1 rejected the Cadillac-bolstered Andretti bid - ultimately resulting in a US government investigation into the arguably anti-competitive decision.
In that context, it is fascinating that Andretti Global has now announced that co-owner Dan Towriss has taken over complete control of the company.
"Michael's goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team," the outfit confirmed in a statement.
"Michael remains engaged and will continue to serve as a strategic advisor and key ambassador."
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Good thing, Bad thing , who knows , but it shows who had the majority of the money/power in the company, if he was pushed out.