'Michael Andretti intends to relinquish ownership of Andretti Global'

Michael Andretti is reportedly trying to relinquish his shares within the 'Andretti Global' company, meaning that he would also no longer be the owner of the company. In fact, Mario Andretti's son wants to take on another role within the organisation.

Andretti is a successful name in motorsport. Recently, they have tried to enter Formula 1, but they were so far unable to reach their goal, as several F1 teams and the FOM do not believe having an eleventh is not adventageous. From 2028 onwards, the US company will have the chance to try joining once again.

Michael Andretti is currently the CEO and the chairman of Andretti Global, however, Sportico reported that he intends to relinquish his shares and thus ownership of the US company.

Andretti, son of former F1 world champion, Mario Andretti, has been at the helm of Andretti Global since 2002. According to insiders, the American has been trying to change his role for some time. Namely, instead of an operational role, such as CEO and foreman, he would prefer a strategic role instead.

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