Andretti closing in on deal to takeover Alfa Romeo F1 team

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.

Kimi Raikkonen, Alfa Romeo Racing C41

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, Supercars championship 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.

Read Also:

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 also 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.

shares
comments

Related video

What could have been: When Stewart turned down Ferrari's F1 advances

F1 Turkish GP Live commentary and updates - FP3 & Qualifying

How McLaren has revamped its F1 team to become a contender again

How McLaren has revamped its F1 team to become a contender again

Plus
Plus
Formula 1
Japanese GP
GP Racing

How McLaren has revamped its F1 team to become a contender again How McLaren has revamped its F1 team to become a contender again

Why precedent doesn’t favour Massa’s F1 legal challenge

Why precedent doesn’t favour Massa’s F1 legal challenge

Plus
Plus
Formula 1
GP Racing

Why precedent doesn’t favour Massa’s F1 legal challenge Why precedent doesn’t favour Massa’s F1 legal challenge

Why Sainz’s Singapore F1 success was not just about DRS genius

Why Sainz’s Singapore F1 success was not just about DRS genius

Plus
Plus
Formula 1
Singapore GP
Jonathan Noble

Why Sainz’s Singapore F1 success was not just about DRS genius Why Sainz’s Singapore F1 success was not just about DRS genius

 The signs that suggest an immediate Red Bull resurgence in F1's Japanese GP

The signs that suggest an immediate Red Bull resurgence in F1's Japanese GP

Plus
Plus
Formula 1
Japanese GP
Alex Kalinauckas

The signs that suggest an immediate Red Bull resurgence in F1's Japanese GP The signs that suggest an immediate Red Bull resurgence in F1's Japanese GP

The lessons Russell can take from his "two-centimetre" Singapore F1 mistake

The lessons Russell can take from his "two-centimetre" Singapore F1 mistake

Plus
Plus
Formula 1
Singapore GP
Jake Boxall-Legge

The lessons Russell can take from his "two-centimetre" Singapore F1 mistake The lessons Russell can take from his "two-centimetre" Singapore F1 mistake

Singapore Grand Prix Driver Ratings 2023

Singapore Grand Prix Driver Ratings 2023

Plus
Plus
Formula 1
Singapore GP
Alex Kalinauckas

Singapore Grand Prix Driver Ratings 2023 Singapore Grand Prix Driver Ratings 2023

The Singapore secrets that helped Sainz end Verstappen's F1 winning streak

The Singapore secrets that helped Sainz end Verstappen's F1 winning streak

Plus
Plus
Formula 1
Singapore GP
Jake Boxall-Legge

The Singapore secrets that helped Sainz end Verstappen's F1 winning streak The Singapore secrets that helped Sainz end Verstappen's F1 winning streak

How a McLaren winner overshadowed by scandal was dealt self-inflicted setbacks

How a McLaren winner overshadowed by scandal was dealt self-inflicted setbacks

Plus
Plus
Formula 1
GP Racing

How a McLaren winner overshadowed by scandal was dealt self-inflicted setbacks How a McLaren winner overshadowed by scandal was dealt self-inflicted setbacks

Subscribe