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Andretti pursuing Sauber acquisition

ISTANBUL, TURKEY – OCTOBER 08: Kimi Raikkonen of Finland driving the (7) Alfa Romeo Racing C41 Ferrari during practice ahead of the F1 Grand Prix of Turkey at Intercity Istanbul Park on October 08, 2021 in Istanbul, Turkey. (Photo by Dan Istitene – Formula 1/Formula 1 via Getty Images)

Multiple reports indicate that Michael Andretti is pursuing the acquisition of Sauber.

Why it matters: Andretti could buy the 80% stake of the company from Islero Investments, a Swedish firm, for 350 million Euros.

Details:

  • The purchase would give Andretti control over Sauber’s Formula 1 team, as well as Sauber Engineering.

What they said:

  • “As is no secret, Formula 1 has been of interest to Michael and the team for some time,” an Andretti spokesman said. “We’ve explored and come close on many options over the years, but we have nothing new to report.”
  • “Our passion is racing, in all forms. Should a proper opportunity come along to take the Andretti name back to F1, we’d jump at it. But as of now, that opportunity has not fallen in our laps and our focus remains on our seven current disciplines of competition.”

Note: This article has been edited on October 8, 2021 at 15:14 CET to correct a mistake that stated that the Andretti Acquisition Corporation is involved.

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