INDIANAPOLIS – One of the most ambitious team owners in international racing has seen his namesake team change control.
It’s Michael Andretti of Andretti Global, who had dreams of entering the Formula One World Championship with Cadillac but is no longer in charge of the team that competes in IndyCar, Formula E and many other racing series.
Andretti Global sent NBCSports.com the following statement:
“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. 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.
“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 move is a bit of a shock in the early days of the offseason in IndyCar as Andretti continued to overcome obstacles in his bid for a Formula One operation.
Dignitaries from left, Zach Veach, Andretti Autosport driver, Eric Holcomb, Governor of Indiana, Dan Towriss, Group1001 President and CEO, and Mark Miles, President and CEO of Hulman and Company pose for photos after an announcement at the Indianapolis Motor Speedway about the partnership of Indy 500 title sponsor Gainbridge, Indianapolis, Thursday, Jan. 31, 2019. Gainbridge Sponsors Indy 500
Dan Towriss (holding helmet) in 2019 — Robert Scheer/IndyStar
Towriss is the CEO of Group 1001, an insurance and financial services company that is based in Zionsville, Indiana. Towriss is major investor in Andretti Global and has taken control of the operation, a move first reported by Jay Penske’s Sportico business site on September 27.
Andretti is the 1991 CART IndyCar Series champion and one of the most celebrated IndyCar Series drivers of his era. In 2003, he moved into team ownership when he purchased Barry Green’s CART-series team and moved it to the rival Indy Racing League.
During that time, Andretti’s team won four IndyCar Series championships beginning with Tony Kanaan’s title in 2004 continuing with Dan Wheldon in 2005 and Dario Franchitti in 2007. Andretti’s last IndyCar Series Championship was with Ryan Hunter-Reay in 2012.
Andretti is also the winning team owner for six Indianapolis 500 winners including 1995 when it was owned by Barry Green with Jacques Villeneuve the winner, 2005 with Wheldon, 2007 with Franchitti, 2014 with Hunter-Reay, 2016 with Alexander Rossi and 2017 with Takuma Sato.
Towriss joined IndyCar in 2018 with driver Zach Veach with his Gainbridge company as the sponsor of the No. 26. The combination created a growing business and Towriss and Andretti set out to find a Formula One operation in 2021.
They came close with Sauber, but the deal fell apart very late in negotiations when Sauber wanted to maintain control of the F1 team.
Andretti Global was created in 2022 with Towriss and Andretti as partners with the goal to join Formula One as a new team, rather than purchase an existing operation.
A new company was created in 2022, Andretti Acquisitions Corporation. The company grew rapidly, but it was not enough to convince Formula One team owners from allowing an Andretti-owned Formula One team with Cadillac as its partner into the F1 “club.”
Some team principles have even told Andretti’s father, Mario, that it is their intention to make sure Michael Andretti never owns a team in Formula One.
Recently, Andretti Global has been involved in an FBI raid at Rahal Letterman Lanigan Racing to investigate a former Andretti Global employee over intellectual property that was alleged to have been brought from Andretti to Rahal Letterman Lanigan.
There are no public statements on that as the FBI continues its investigation.
Andretti Global has three cars in the NTT IndyCar Series, including primary sponsor Gainbridge on Colton Herta’s No. 26 Honda. Another Group 1001 company, Delaware Life, is on Marcus Ericsson’s No. 28 Honda. The team also features Kyle Kirkwood in the No. 27 Honda.
Andretti and Towriss were also involved in Wayne Taylor Racing’s two-car IMSA WeatherTech SportsCar Championship team. It also has a four-car Indy NXT program including Louis Foster’s championship effort in 2024.
Towriss has invested heavily in the Formula One effort with a new race shop under construction in Fishers, Indiana, a wealthy suburb on the northwest side of Indianapolis.
This story continues to develop, and more details will be updated.