Michael Andretti has ceded ownership of the Andretti Global motorsports team to Dan Towriss, CEO of Group1001, the primary investor of the organization and its various endeavors.
The team confirmed the decision with a Friday statement, but the outcome follows months of a reported growing tension between Andretti and Towriss over the direction of the organization. Andretti will remain on as an advisor.
“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,” Andretti Global said in the statement. “Michael and Dan Towriss have been working closely on developing this new structure, one which Michael is excited to see take shape under Dan’s guidance.
“Michael remains engaged and will continue to serve as a strategic advisor and key ambassador. We will have more to share in the coming weeks, after Michael and Dan have had an opportunity to speak to the team.”
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Group1001 first entered IndyCar in 2018 as a sponsor of driver Zach Veach through the Gainbridge Financial brand. In recent years, Andretti and Towriss have extended branches into NASCAR with Spire Motorsports and have worked feverishly to get into Formula 1 with a General Motors works program.
During that time, as a result of the investment, Towriss had taken more of a leadership role in the organization purely by means of influence but now a more formal leadership structure has been achieved.
Currently, Gainbridge is the sponsor on the No. 26 driven by Colton Herta with Deleware Life on the No. 28 driven by Marcus Ericcson. Andretti Global also purchased the IMSA running Wayne Taylor Racing team in 2023 and also operates a Indy NXT ladder team.