Michael Andretti steps back from ownership of Andretti Global after failed F1 bid
Group 1001 CEO Dan Towriss takes over the control of Andretti global with, Michael Andretti stepping down from his duties.
Michael Andretti ( via IMAGO)
Michael Andretti aimed to bring a new team in Formula 1 by 2026. Among several applicants, Andretti passed all FIA technical checks, but Formula 1 rejected the bid during commercial talks. The existing 10 teams largely opposed expanding the grid to include an 11th team. However, it has now been announced that Michael Andretti would step back from his ownership duties at Andretti Global.
After Michael Andretti’s departure, Group 1001 CEO Dan Towriss will take over his role. Andretti aims to focus on a more strategic position within Andretti Global, concentrating on key decisions and guiding the team’s overall direction. This shift allows the 61-year-old to step away from daily operations and focus on bigger goals, such as expanding the organization.
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 statement wrote, as reported by Motorsport
Andretti and Dan Towriss have worked closely to develop the team’s new structure. They have planned how the team will be organized and run, with Andretti focusing on the strategic side and Towriss overseeing the operational aspects. The 61-year-old is eager to see the changes take shape, especially with Towriss leading the way. He fully trusts Towriss to lead the team successfully and is excited to see their shared vision come to life.
Michael and Dan Towriss have been working closely on developing this new structure, one which Michael is excited to see take shape under Dan’s guidance.
The statement emphasized.
Michael Andretti to be still involved with Andretti global after stepping down from his role
Andretti after he steps back from all his duties will still remain in the sport to advice over strategic decisions. In the upcoming weeks the organization plans to share more information regarding this saga. Once both Towriss and Andretti talk to the team about this, much information related to their roles will be revealed.
Michael remains engaged and will continue to serve as a strategic advisor and key ambassador. We will have more to share in the coming weeks, after Michael and Dan have had an opportunity to speak to the team.
The statement highlighted.
With the new structure, Andretti Global aims to pursue opportunities to enter Formula 1 in the future. Under Towriss’s leadership, the organization has expanded its presence in motorsports, participating in various series like the IMSA Sports Car Championship. This growth shows the organization’s commitment to expanding its impact in motorsports.
Gaurang Kadam
(394 Articles Published)