A Formula 1 team project has been rocked by the departure of a key member from their ownership structure.
Andretti Global have been attempting to break into F1 and become the 11th team on the grid for quite some time, with their entry bid initially granted by the FIA in 2023, before Formula One Management (FOM) rejected them having been unsure of the value an 11th team would bring to the sport.
Led by former F1 driver Michael Andretti, the brand currently races in IndyCar, FormulaE and IMSA.
They have also pushed on in their attempts to one day join the F1 grid, by opening a new facility at Silverstone Park, and recruiting F1 legend Pat Symonds to their cause.
Andretti Global are attempting to break into Formula 1Former F1 star Michael Andretti is the owner of Andretti Global
Andretti Global make ownership changes
Now, however, it appears a period of change is afoot at Andretti Global, with former F1 star Andretti stepping down from his ownership role.
Andretti will instead take up a more 'strategic role' away from the day-to-day operational side of the business.
Businessman Dan Towriss, CEO of an insurance and financial services company, is instead expected to take the role of the primary owner within the team.
In a statement, Andretti Global confirmed the commencing of musical chairs within the business: "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.
"He and Dan Towriss have been working on a structure of what this could look like and have reached a direction that Michael is very happy with and believes will bring a positive future.
"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."
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