Michael Andretti is not giving up his dream of owning a Formula 1 team, says his father Mario.
The American tried to buy a majority stake in the Alfa Romeo F1 team last year, with reports claiming the deal is just a signature away from completion.
However, as the days passed without confirmation, various rumors surfaced, the loudest of which was that finances were holding up the deal.
Eventually the talks broke down completely.
Andretti denied that finances were the reason, saying: “That couldn’t be further from the truth. It had nothing to do with that.”
Instead, he told Autosport that “the final hours of negotiations were all about controlling issues. That killed the deal.”
But while the Alfa Romeo deal is out of the question, that doesn’t mean Andretti isn’t already considering his other options.
“I can only say that Michael is not giving up,” Mario told RacingNews365.com in an exclusive interview.
“He has his sights set on getting into the Formula 1 world and he’s got some good people behind him. Stay tuned! It’s not over yet.”
Pressed on it, Mario only added that “it’s not over yet.”
Andretti had previously had informal discussions with Haas team boss Guenther Steiner, revealing last October that he “had spoken to Michael a couple of times, not recently, honestly.”
Mario says it is the new regulations of Formula 1 and the sport’s desire to create a level playing field that caught his son’s attention.
“There is so much to look forward to seeing how the new technical rules will play out,” added Mario.
“We will see whether the field becomes more level; Because of these new rules, everyone is pretty much starting from scratch.”
Andretti might have a hard time getting a foot in the door, however, as McLaren CEO Zak Brown reckons the success of today’s F1 is so great, which means nobody wants to sell.
“I think the health of the teams has never been stronger,” the American told City AM last month.
“In Formula 1 there were always two or three teams in trouble at the same time. Now you have 10 very well funded teams of very credible individuals or investment groups.
“Sauber was saved [Tetrapak heir] Finn Rausing a few years ago. And here he is just a few years later, tallying $400m (£302m) for the racing team.
“I now routinely get calls from very big sports investors who are really keen to buy Formula 1 teams and there is no team to buy.
“It’s become a seller’s market and no one wants to sell.
“Formula 1 brought many partners, we brought many partners, other racing teams brought many partners. So I think overall the commercial health of the sport is great.”
