Michael Andretti Relinquishing Ownership Of Andretti Global

Andretti Global has been at the forefront of Cadillac‘s bid to break onto the Formula One racing scene. The organization partnered with General Motors to make a Cadillac F1 car happen with sights set on a grid spot in a few years’ time, despite the fact that GM was asked to consider shacking up with someone other than Andretti to make it happen. The powers that be will soon get their wish, as Michael Andretti will relinquish his ownership stake in Andretti Global.

Sources close to Andretti broke the news to Sportico, indicating that the five-time Indy 500 champ will soon step down from his ownership role at the team. Andretti, who is the son of racing legend Mario Andretti, will stay with the motorsports organization that he has helmed since 2002, but will take a step back to work behind the scenes rather than stay on as CEO.

“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 told Sportico. “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.”

Whether Andretti’s decision to step down will throw another wrench in the Cadillac F1 bid remains to be seen, but the path has been anything but smooth for the American luxury marque in its quest to break onto the grid. While the Fédération Internationale de l’Automobile (FIA) approved the application, F1 itself rejected it, prompting the U.S. Congress to launch an investigation into the refusal. FIA President, Mohammed Ben Sulayem, even suggested that GM purchase an existing team instead of trying to bring Andretti Global to the table.