Andretti Global, a well-known racing team involved in various racing series worldwide, is undergoing a significant change. Michael Andretti, the owner of the team and son of legendary racer Mario Andretti, is selling his ownership stake in the company. Andretti Global participates in IndyCar, Indy NXT, Formula E, Extreme E, IMSA GTP, Super Copa, and Australian Supercars. The team has been trying to enter Formula One with Cadillac but has faced challenges in achieving this goal.
Despite its involvement in multiple racing series, Andretti Global has experienced success in recent years. The team won a Formula E championship in 2023 and the 2024 Indy NXT championship. However, they have not secured the IndyCar title since 2012 and have not won an Indianapolis 500 race since 2017. The team’s expansion is evident as they are constructing a new $200 million headquarters and race shop in Fishers, Indiana.
To facilitate this transition, Michael Andretti sold a portion of the company to entrepreneur Dan Towriss and his holding company, Group 1001. Sources suggest that Andretti is looking to shift from his operational role to a more strategic position within the team. Towriss, with a strong business background, is expected to oversee the business aspects, while a racer will focus on the racing side of the team.
Andretti’s public dispute with the FIA regarding the team’s entry denial into Formula One may have contributed to this decision. A new owner with a more level-headed approach could potentially navigate the challenges and opportunities more effectively. This change in ownership could bring a fresh perspective and direction to Andretti Global, allowing the team to pursue its racing goals more efficiently.
