Quick Hit:

Michael Andretti steps back from operational control of Andretti Global, handing the reins to business partner Dan Towriss. Andretti will remain a strategic advisor, with the team’s Formula 1 ambitions now unclear.

Key Details:

• Michael Andretti sold part of Andretti Global to Dan Towriss, owner of Gainbridge, in early 2023.

• Andretti Global has been pursuing entry into Formula 1, but future plans are now uncertain.

• Andretti remains engaged as a strategic advisor while Towriss takes over operational control of the racing team.

Diving Deeper:

Michael Andretti, the face of Andretti Global since 2002, has officially passed control of the racing organization to his business partner, Dan Towriss. Andretti will step back from day-to-day operations to focus on a strategic advisory role, allowing Towriss to take the lead in running the team.

Towriss, owner of Gainbridge and Group 1001, became co-owner of the team in early 2023 after purchasing a significant stake from Andretti. Gainbridge, a major sponsor in IndyCar, also backs Andretti Global’s driver, Colton Herta. Since Towriss' investment, the team has expanded rapidly, fueling Andretti's ambitions to break into Formula 1.

Although Andretti remains listed as CEO and chairman of Andretti Global, this restructuring signals a shift in responsibilities. The team confirmed Andretti’s desire to focus on a strategic role, stating, “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.”

Andretti Global has had success on the IndyCar circuit, fielding three teams this season and capping it off with a win at the Nashville Superspeedway. The team has also celebrated five Indianapolis 500 victories. However, the future of its Formula 1 efforts remains unclear as the team did not specify how this restructuring would affect its push to join F1.

More details are expected once Andretti and Towriss address the team. For now, the racing world watches as Andretti Global navigates its next chapter under new leadership.

"Michael Andretti" by MIDWST.BLUR licensed under (CC BY-SA 2.0)