According to multiple sources, American racing outfit Andretti Autosport is close to securing a majority stake in the Alfa Romeo Formula One team.
Insiders with firsthand knowledge of the subject say negotiations with Alfa Romeo’s owners are now at a very advanced stage, following weeks of rumors about the US term visions at F1 options.
The takeover might be approved in a matter of weeks, with its owner, former Formula 1 driver Michael Andretti, eager to add a grand prix team to his portfolio.
However, it is understood that the Islero Investments company, which currently owns the Alfa Romeo team, has yet to make a definitive decision following the Swiss club’s takeover by Swedish investment group Longbow Finance in 2016.
Andretti Autosport will add another series to its present activities, which include IndyCar, Indy Lights, IMSA, Formula E, Australian Supercars, and Extreme E, if the go-ahead is given.
The Alfa Romeo team has declined to comment on the current situation, and team principal Fred Vasseur stated at the Turkish Grand Prix that any discussions about the team’s ownership would not be something he would be personally involved in.
“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.”
According to sources, Andretti is interested in F1 because of the transition to a new rules era in 2022, which would provide a more fair playing field for teams and the continued possibility of cooperation between manufacturers and customer squads.
While Andretti had previously expressed interest in joining F1 only if he could drive a customer car, the implications of the cost cap era, which Liberty Media helped establish, have given him cause to believe that now is a good time to jump in.
Alfa Romeo and Ferrari have a close relationship, and the team recently extended a long-term partnership with Alfa Romeo, ensuring the team’s future success for the next few years.
Any arrangement for Andretti to take over Alfa Romeo would also pave the way for Colton Herta, the current IndyCar winner, to make the long move to F1 if he wins enough F1 superlicence points.
In May, Herta signed a long-term contract with Andretti Autosport, committing him to the team for the near future.
Any move to F1 in 2023 or beyond, on the other hand, may allow Kyle Kirkwood, Andretti’s Indy Lights champion, to join the IndyCar team full-time, given his uncertain future.
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