On Monday, an Instagram post from Andretti Motorsport noted that Michael Andretti has stepped down as owner of the company and will move into an advisory position within the racing organization. Dan Towriss, the other owner of the organization, will become sole owner of the organization, according to the post.
While the announcement is sudden, many within the motorsport world including Planet F1 are pointing toward Cadillac’s Formula 1 goals of becoming the 11th team on the grid. While the initial bid was helmed by the Andretti global organization alongside Cadillac, the new report notes that Formula 1 has expressed continued interest in bringing on Cadillac as a powertrain developer.
In another report from GP blog, Mario Andretti, Michael’s father, stated that the reason behind Michael’s departure “…is not exactly the way that it seems, like people are assuming, because no official comments have been made on that. So that’s coming.”
While Mario remained tight-lipped in regards to the announcement, he did note, “I think it’s gonna be any time within a month, I would suspect. It’ll be when everything is totally established.”
Andretti Motorsports opened its doors in 1993 and has seen Michael at the helm throughout its lifetime.
Click here to read the full reports from PlanetF1 and GPblog.
