American racing operation Andretti Autosport is set to complete a shocking Alfa Romeo takeover, according to motorsport.com.
Multiple sources have stated that Andretti is looking at buying a majority stake in the F1 team. Their negotiations with Alfa Romeo’s owners is reported to be at an advanced stage.
If the company succeeds, they will be adding F1 to their catalogue, which is one that has Formula E and IndyCar, among other competitions.
Andretti Autosport is headed by former F1 driver Michael Andretti. He is set to complete his buyout in the upcoming weeks. Alfa Romeo themselves have provided no details, and have declined to comment.
Alfa Romeo Team Principal Frederic Vasseur said, “I can say nothing because honestly it’s not in my parameter.
“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.”
Andretti apparently became interested in F1 after the FIA revealed that they are introducing new regulations in 2022. They studied the announcement, and believe they could shake up the system with their arrival.
The purchase would be a smart one, given the Italian team’s long-term deal with Ferrari. This partnership would provide the base for the development that will be planned by Andretti and company.
A purchase would also mean that Andretti-associated driver Colton Herta could make the move to F1. The IndyCar driver just needs to acquire the required number of superlicense points to make the move.
Herta recently signed a long-term deal with Andretti Autosport, which means he will remain with the team for a while. These plans could take shape if the purchase goes through.