The takeover of Sauber by Michael Andretti, who drives as Alfa Romeo in Formula 1, fails because the price was “too high” for the team.
The deal seemed sure to be closed and Andretti Autosport is expected to sign in the coming weeks. There have even been reports of Indy Car driver Colton Herta being Valterri Bottas’ teammate for the next season.
According to Auto Motor und Sport, however, the deal has now failed.
The publication’s F1 editor, Michael Schmidt, said of its YouTube channel: “At first it was said that it was on hold, now we hear that it is completely off the table.
“Apparently the price is too high. There’s a set price for the team plus a guarantee (the paddock says about $ 250 million). “
Meanwhile, The Race reports, that guarantee has put Andretti off as he would have to pay $ 50 million a year upfront for five years to ensure the team can work within budget.
Nothing has been confirmed yet and there have been few updates at the United States Grand Prix as Alfa Romeo team principal Fred Vasseur refused to speak about the deal.
He told The Race, “I have absolutely no comment on this. This is not my business.
“I’m not involved in this type of discussion and we have absolutely no comments to make as we have in the past. I focus on leading the team. That’s none of my business. “
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