Michael Andretti hands over control of race team to business partner. Formula 1 plans in limbo

Michael Andretti has restructured Andretti Global to give co-owner Dan Towriss control of the organization. Andretti will stay on as a strategic advisor of the team he has led since 2002. Andretti in early 2023 confirmed he’d sold part of the company to Towriss, who is the owner of Gainbridge and holding company Group 1001. Gainbridge is one of the largest sponsors in IndyCar and also sponsors Andretti driver Colton Herta’s car. The team has rapidly expanded with Towriss’ influx of cash, and Towriss has been part of Andretti’s push to join Formula 1. Andretti is still listed as CEO and chairman of Andretti Global.