Michael Andretti, a prominent figure in motorsports, has announced a significant restructuring of his racing organization, Andretti Global. The changes involve handing over operational control to his business partner, Dan Towriss, while Andretti transitions to a strategic advisory role within the company he has led since 2002.
Towriss, who owns Gainbridge and holding company Group 1001, became a co-owner of Andretti Global in early 2023. His involvement brought a substantial influx of capital, enabling rapid expansion of the team’s operations. Gainbridge, one of the largest sponsors in IndyCar, also backs Andretti driver Colton Herta’s car and the Indianapolis 500.
The team’s official website describes Towriss as a partner with “a genuine passion for motorsports and deep partnerships in the industry,” who is “changing the way people look at the business of motorsports.” While Andretti remains listed as CEO and chairman of Andretti Global, the recent changes reflect a shift in day-to-day leadership.
A statement from the team explained, “Michael’s goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team.” The restructuring has been a collaborative effort between Andretti and Towriss, with Andretti expressing enthusiasm for the new structure under Towriss’s guidance.
This leadership transition comes amid a contentious relationship between Andretti and Roger Penske, owner of IndyCar and Indianapolis Motor Speedway. Tensions escalated earlier this year when Andretti criticized Penske’s marketing efforts for the series, suggesting he should sell if unwilling to invest adequately. The friction
intensified throughout the season, culminating in Andretti leadership raising concerns about a potential conflict of interest in race officiating.
Despite these challenges, Andretti Global has maintained a strong presence in IndyCar, fielding three teams in the 2023 season for drivers Colton Herta, Marcus Ericsson, and Kyle Kirkwood. Herta secured the team’s only two victories of the year, including a win in the season finale at Nashville Superspeedway, which propelled him to second place in the final IndyCar standings.
The team’s illustrious history includes five Indianapolis 500 victories, though they have not claimed an IndyCar championship since 2012. Michael Andretti’s personal racing career was equally
impressive, with 42 IndyCar victories placing him fifth on the all-time list.
Andretti’s efforts to enter Formula 1 remain in limbo, facing significant opposition from both F1’s owners and existing teams. The situation has escalated to the point where Liberty Media, F1’s owner, is under investigation by the U.S. Department of Justice for potential antitrust violations related to blocking Andretti’s entry.
In a separate business venture, Andretti and his father, Mario, formed a special purpose acquisition company (SPAC) in 2021, distinct from Andretti Global. This SPAC recently merged with Zapata Computing Holdings, a generative AI company. The merger has created interesting financial dynamics, with Andretti Global becoming Zapata’s largest customer while Zapata sponsors the motorsports team.
As the restructuring unfolds, Andretti Global has promised to provide more details once Michael Andretti and Dan Towriss have had the opportunity to address the team directly. This transition marks a significant moment in the history of one of motorsport’s most renowned organizations, as it adapts to new leadership and continues to pursue ambitious goals across various racing disciplines.