Michael Andretti Expected to Step Down as Andretti Global CEO After F1 Refusal

Michael Andretti is reportedly transitioning to a more strategic role with Andretti Global following the team's denial of entry into Formula 1.

Michael Andretti stands in the pit box Friday, May 19, 2023, during Fast Friday ahead of the 107th running of the Indianapolis 500 at Indianapolis Motor Speedway. / Bob Goshert/For IndyStar / USA TODAY NETWORK

Michael Andretti is reportedly set to relinquish his ownership stake of Andretti Global, transitioning to a more strategic role within the organization, according to a report from Planet F1.

This potential change comes on the heels of Andretti Global's recent denial of entry into Formula 1 by Formula One Management (FOM). The news marks a shift in the leadership dynamics of the motorsport giant, previously known as Andretti Autosport, which was rebranded in 2022 following substantial investment from Dan Towriss and Group 1001.

Andretti Global detailed the reorganization in a statement:

“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.

“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.

“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.”

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.

FOM explained in a statement at the time:

"Our assessment process has established that the presence of an 11th team would not, on its own, provide value to the championship.

"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."

Responding to the FOM's findings, Andretti Global commented:

"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.

"We are proud of the significant progress we have already made on developing a highly competitive car and power unit with an experienced team behind it, and our work continues at pace."

Stakeholders and fans of Andretti Global are keenly awaiting further details on the evolution of the team's structure under Towriss's leadership.