Was this an ominous sign portraying Mikey A’s
future IndyCar team ownership? (The Tomaso Collection)
Sing it Jimmy Morrison. “Keep your Eyes on the Road
and Hands upon the Wheel!”
One of the two biggest IndyCar offseason stories
(to date) has to be the bombshell dropped by Jay Penske’s Sportico on Friday,
September 27th. Claiming that Michael Andretti had relinquished ownership
control of His namesake Andretti Global racing operation, Say What!
Now I’m not gonna try connecting any dots,
especially since I cannot “see” them! But this story, and the subsequent He
said, She said back ‘n forth denial denials just make my head Hurt! Especially
since I think my Tinfoil Hat’s aluminum is making the brim too small…
Although I must say I’m not buying the By gosh,
Gee Wally pass me another glass ‘O lemonade sultry sweet AP Damage limitations
article posted either! As seriously? You talk to Jenna Fryer of the AP before
talking to your employees?
Naturally several thoughts have sprung to mind.
As I’ll begin with how apropos this news breaking is in conjunction with this
year’s impending United States Grand Prix at circuit Of The Americas (COTA) in
Austin, Texas this weekend, CoInky-dense?
As doesn’t it seem so quaint now? Recalling
when Mikey A’ didn’t even have a notebook to carry His please sign this
admittance slip in a hastily bought Miami Dolphins folder Wayback’ when. Y’all
know when He was trying vainly to get the ten Formula 1 Team Principals to
support His bid for an eleventh F1 team, which we All know how that’s gone,
Righto! Which I believe only Zak Brown of McLaren and the former boss of Alpine
signed.
Hmm, somehow I doubt we’ll hear anything about
the ongoing Department of Justice’s (DOJ) Antitrust investigation over Liberty
media and Formula One Management (FOM) categorically rejecting Andretti’s
successful FIA Application to become Formula One’s eleventh F1 Constructor.
Since the Fat Cats want an extra $400m as in millions thrown into their F1 prize
delusion fund! Wanting the figure bumped to $600m regardless of the current
legally binding Concorde agreement.
Listening to Marshall Pruett’s The Week in
IndyCar October 2nd podcast, where Marshall spent almost the first 30mins on
the subject. I came away feeling this is most definitely a power grab being
made by Daniel Towriss! Who’s the CEO of Group 1001, an Insurance and Financial
security firm based in Zionsville, Indiana.
Although Pruett notes that Towriss is
essentially the “Point” man running the day-to-day operations of Andretti
global. Having become Michael Andretti’s boss, Youch!
Towriss and His Group 1001 may actually report
to Mark Walter, the CEO of Guggenheim Partners? A Global Investments firm with
holdings of some $300-325 Billion, Youza! While Walter Himself is part owner of
the Los Angeles Dodgers, Chelsea Premiere Football team and the Womens
Professional Hockey league.
Although I’ll confess I don’t know the exact
“linkage” between Walter, Towriss and the Andretti Acquisition Corporation
established in 2021 with an initial IPO of $250 million. Which seems
specifically created for the creation of the proposed Andretti Global F1 Team.
Interestingly, a one Messer Zak Brown is one of
it’s Shareholding Directors. Not to mention being a business partner with
Michael Andretti…
Arse-suming Y’all know the back story over how
Group 1001 thru it’s flagship Gainbridge brand initially funded Zach Veach for
a three year drive at Andretti Autosport in 2018. Before Veach was jettisoned
with three races remaining on His deal, with Andretti keeping the Gainbridge sponsorship.
Then Towriss (and Company) bought an ownership
stake in Andretti, reportedly pouring in $250 million! To finance the building
of the newly renamed Andretti Global operation’s expansion hopefully into
Formula 1 and NASCAR. As they’ve got an “association” with Spire Motorsports.
The acquisition of Wayne Taylor Racing and it’s Formula E, Extreme E and
Supercars teams.
Along with the completion of it’s $200m, 400,000
square foot Taj Mahal facility in Fishers, Indiana, which resides on a
sprawling 91 acres tract! And is slated for it’s Grand Opening on March 5,
2025, according to Marissa Andretti. Marco Andretti’s younger sister, who’s
Vice President of Andretti Global, and Managing Director of Andretti
Technologies.
As Pruett notes, He’s not worried over the
IndyCar side of the operation going forward. Especially since two of it’s three
entries are currently backed by Group 1001properties, i.e.; Gainbridge on
Colton Herta’s No. 26, and Delaware Life on Marcus Ericsson’s No. 28. Although
sponsorship of Kyle Kirkwood’s No. 27 is somewhat questionable next year.
And hopefully the team will remain in Indy NXT
with its current four car operation. Ideally six entries, including it’s
partnership with Cape Motorsports, albeit that may get trimmed back?
As everything just seems to circle back to the
team’s F1 aspirations, and limiting the “unseemly” noise Michael and His Papa
Mario have been making, even if they’re correct!
As it seems that a phrase I’ve become well
accustomed with lately, that being the Straw that Broke the Camel’s back!
Appears to be the FBI being called to investigate the alleged theft of (IP)
Intellectual Property from Andretti to Rahal Letterman Lanigan Racing by a
former Andretti employee.
Is there total collusion going on in Formula 1,
you bet! As recall how FIA President Mohammed Ben Sulayem who started this
whole mess by opening up the F1 team application process. Has made a total
U-turn, telling Andretti they should now buy an existing F1 team instead…
Yet I cannot help but wonder about how much
money has been poured into establishing the 48,000 square foot Formula 1 base
in Europe by Andretti Global. Saying they’re pressing on towards having an F1
chassis ready. Not to mention how much are the employees salaries? Along with
operational costs, which I don’t know if that involves wind tunnel costs, etc.
As reportedly the FIA “wink-wink”, Liberty
Media and FOM stance is that the door’s wide open for General Motors to join in
2028 with their flagship brand Cadillac being a Power Unit (PU) supplier.
And Marshall seems to hint that it appears that
GM and Cadillac have decided they want to steer the F1 ship, presumably with a
Cadillac Racing team circumventing Michael Andretti…
Thus as Geo. Phillips of Oilpressure fame said
regarding this thorny subject. Get your popcorn ready! As I doubt we’ll ever
know the true story behind this? Even though it sure seems like Michael
Andretti’s been forced into early retirement, who’ll soon turn 62 years old.
Yet although nothing lasts for ever, especially life! I find it inconceivable that Mikey would have thrown in the towel when His burning desire is to become a Formula 1 team owner. And Yeah, I’ve read His “Open letter to Fans”.
