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Andretti is in talks to buy with Sauber F1 owner – Motorsports

According to media reports, US-based Andretti Autosport is in talks with Switzerland-based Sauber, owner of the Alfa Romeo Formula One team.

Racer.com, the US motorsports website, reported that “significant negotiations” took place at the US Grand Prix in Austin later this month.

Motorsport.com quoted sources on Saturday saying that Andretti Autosport is approaching a deal to acquire a majority stake and negotiations are in a very advanced stage.

Former IndyCar Champion, Grump Relayer and 1978 F1 World Champion Mario’s son Michael Andretti has previously said he was interested in acquiring the F1 team.

“There are a lot of reports and rumors,” the owner of the Indy Car team, who is also interested in Electric Formula E, Extreme E series and sports cars, asked Reuters last month about speculation.

“I’ve been taking over the team for a long time. When the right opportunity comes, I’ll jump into it. There’s nothing new to report at this point, but who knows?”[Takingoverateam[foralonglongtimeWhentherightopportunitycomesupI]’mgoingtojumpatitNothingnewtoreportatthemomentbutwhoknows? ” [takingoverateam[foralonglongtimeWhentherightopportunitycomesupI’mgoingtojumpatitNothingnewtoreportatthemomentbutwhoknows?”

Racer.com also reported that Andretti had “provisionally spoken” to Williams and Haas, but discussions with Sauber progressed.

This year, the Andretti family set up a special purpose acquisition company (SPAC) to raise $ 250 million through an initial public offering.

The United States is Formula One’s main market, with new races in Miami joining the calendar next year and increasing viewership thanks to the popular Netflix “Drive to Survive” documentary series.

The budget cap introduced this season will drop to $ 140 million in 2022 and $ 135 million in 2023, acquiring financial barriers to new teams entering beyond the existing 10 outfits. It enhances the attractiveness of.

Alfa Romeo team principal Frederick Vasul was unable to comment on speculation when asked at the Turkish Grand Prix on Friday.

“I’m the CEO and team principal, and this kind of discussion has nothing to do with me. It’s going to be a discussion with shareholders,” said the Frenchman.

“There are a lot of rumors, so I have to ask the shareholders of the company,” he said.

Ferrari-powered Alpha is struggling in 9th place in the rankings, signing Finland’s Barteribotta from champion Mercedes in 2022, but the complete lineup has not yet been confirmed.

– Motorsports

Andretti is in talks to buy with Sauber F1 owner

https://www.espn.com/f1/story/_/id/32365658/andretti-takeover-talks-sauber-f1-owners-reports Andretti is in talks to buy with Sauber F1 owner

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