Andretti closing in on deal to take over Alfa Romeo F1

American racing operation Andretti Autosport is closing in on a deal to take a majority stake in the Alfa Romeo Formula 1 team, multiple sources have indicated.

Following weeks of speculation about the US organisation looking at F1 opportunities, insiders with good knowledge of the situation say negotiations with Alfa Romeo’s owners are now at a very advanced stage.

With its owner, former Formula 1 driver Michael Andretti, eager to add a grand prix team to his portfolio, there are suggestions that the takeover could be approved in a matter of weeks.

However, it is understood that no final decision has been taken yet by the Islero Investments company that is the current owner of the Alfa Romeo team, following the Swiss squad's takeover by Swedish investment firm Longbow Finance in 2016.

Should the go-ahead be given, then it will see Andretti Autosport add another series to its current activities, which includes IndyCar, Indy Lights, IMSA, Formula E, Australian Supercars and Extreme E.

The Alfa Romeo team has declined to comment on the current situation, and team principal Fred Vasseur made it clear at the Turkish Grand Prix that any discussions about the ownership of the squad were nothing that he would be involved in personally.

“I can say nothing because honestly it’s not in my parameter,” he said. “I’m the CEO and team principal and these kind of discussions are not with me, it would be with the shareholders. We have so many rumours and so on that you have to ask the question to the shareholders of the company.”

Sources have suggested that Andretti has become attracted to F1 because of the move towards a new rules era from 2022 – with a more level playing field between teams and the ongoing possibility of co-operation between manufacturers and customer squads.

Michael Andretti

Michael Andretti

Photo by: Simon Galloway / Motorsport Images

While Andretti had expressed interest in the past about joining F1 only if he could run a customer car, the implications of the cost cap era that Liberty Media has helped introduce has given him reason to feel that there are good opportunities to jump in now.

Alfa Romeo has close ties with Ferrari and recently extended a long-term partnership with Alfa Romeo for that relationship to continue, giving the team a fair deal of security for the next few years.

Any deal for Andretti to take charge of Alfa Romeo would also open up the door for IndyCar frontrunner Colton Herta to potentially make a move to F1 in the longer term, should he acquire enough F1 superlicence points.

Herta impressed greatly for Andretti Autosport this year and signed a long-term contract back in May that keeps him committed to the team for a while.

However, any move to F1 in 2023 or beyond could open the door for Andretti’s Indy Lights champion Kyle Kirkwood to step up to the IndyCar team full-time, with his future currently uncertain.

Read Also:

shares
comments
F1 set to abandon planned new sporting regulations format

Previous article

F1 set to abandon planned new sporting regulations format

Next article

Verstappen doesn't think Red Bull has pace to win Turkish GP

Verstappen doesn't think Red Bull has pace to win Turkish GP
Load comments
The details that boosted Verstappen and held back Hamilton in Austin Prime

The details that boosted Verstappen and held back Hamilton in Austin

As the 2021 Formula 1 title battle winds towards its climax, the United States GP added another thrilling act in the Lewis Hamilton-Max Verstappen battle. Although Hamilton aced the start, Verstappen and Red Bull took the initiative with strategy and were richly rewarded, despite Mercedes' best efforts as the race went down to the wire

Formula 1
Oct 25, 2021
US Grand Prix Driver Ratings Prime

US Grand Prix Driver Ratings

On a baking hot afternoon in Texas, Formula 1 drivers were tested to their limits. As the pressure on the title contending squads reaches an ever-greater level of intensity, the foremost challengers again showed their class, but were outshone by a standout drive from the upper midfield

Formula 1
Oct 25, 2021
The 10 greatest drives of lost legend Jo Siffert Prime

The 10 greatest drives of lost legend Jo Siffert

It's 50 years since Jo Siffert was killed in his prime at Brands Hatch. The Swiss scored just two world championship wins in a Formula 1 career spent largely with privateer teams, but showed on numerous occasions in single-seaters and in sportscars with Porsche that he could beat any of the best drivers of his era given the right equipment.

Formula 1
Oct 24, 2021
Why a misunderstood Kimi Raikkonen will thrive in retirement Prime

Why a misunderstood Kimi Raikkonen will thrive in retirement

Three years on from Kimi Raikkonen's last Grand Prix victory at Austin, he is now six races away from ending the longest Formula 1 career in history. His friend and former Ice1 Racing rally team PR man Anthony Peacock explains why there’s nobody quite like the 2007 world champion and why F1 will miss him (but he won’t miss it).

Formula 1
Oct 24, 2021
How Verstappen has become F1 champion material Prime

How Verstappen has become F1 champion material

As Red Bull and Honda go all-out for victory in the Japanese engine manufacturer’s last season of its latest Formula 1 dalliance, Max Verstappen finds himself thrust into a compelling title fight with Lewis Hamilton. He told OLEG KARPOV about his evolution into a world championship contender and why Red Bull's no compromise ethos suits him down to the ground

Formula 1
Oct 23, 2021
Why long-run times should please Red Bull in Austin F1 battle Prime

Why long-run times should please Red Bull in Austin F1 battle

Mercedes has been on a roll of late in the ultra-tight fight to win the 2021 Formula 1 world championship. It started off well in practice at Austin for this weekend’s US Grand Prix, but Red Bull got closer as Friday unfolded and even seemed to find an edge in one critical area of what seems set to be set to be another close contest.

Formula 1
Oct 23, 2021
The six critical factors that could hand F1 2021 glory to Hamilton or Verstappen Prime

The six critical factors that could hand F1 2021 glory to Hamilton or Verstappen

The 2021 Formula 1 title battle is finely poised with six races remaining, as just six points separate championship leader Max Verstappen from seven-time champion Lewis Hamilton. In such a closely-fought season, the outcome could hinge on several small factors playing the way of Red Bull or Mercedes

Formula 1
Oct 22, 2021
Can Whitmarsh appointment help Aston succeed where its F1 rivals failed? Prime

Can Whitmarsh appointment help Aston succeed where its F1 rivals failed?

Aston Martin owner Lawrence Stroll is determined to make the group a billion-dollar business. MARK GALLAGHER analyses his latest play – bringing former McLaren team principal Martin Whitmarsh into the fold

Formula 1
Oct 22, 2021