Michael Andretti is reportedly transitioning to a more strategic role with Andretti Global following the team's denial of entry into Formula 1.
is reportedly set to relinquish his ownership stake of Andretti Global, transitioning to a more strategic role within the organization, according to a
“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. This comes after Andretti Global's efforts to join the Formula 1 grid fell flat. In early October 2023, optimism surged as the FIA accepted Andretti’s bid, progressing them to the next step of the approval process. However, by January 31, 2024, hopes were dashed when FOM rejected Andretti’s appeal, citing a lack of competitiveness and perceived value to Formula 1.
"The most significant way in which a new entrant would bring value is by being competitive. We do not believe that the applicant would be a competitive participant.""Andretti Cadillac has reviewed the information Formula One Management Limited has shared and strongly disagree with its contents. Andretti and Cadillac are two successful global motorsports organisations committed to placing a genuine American works team in F1, competing alongside the world's best.
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