Mario Andretti has suggested that the new Global Andretti HQ project is set to go beyond just F1.
In a facility based in Fishers, Indiana, that’s expected to cover 575,000 square foot and set to cost around $200 million (with an opening date of 2025), the plan is to go beyond F1.
In an interview, talking about the ambitious Andretti project, Michael Andretti, son of Mario Andretti, said that the team’s plans are not just confined to F1.
Andretti has received financial backing from Guggenheim Partners, a private equity firm with $285B under management.
The firm will fund Andretti’s $200M facility in Indiana and cover the $200M F1 entry fee.
Andretti still needs approval from the FIA. #F1
Andretti has received financial backing from Guggenheim Partners, a private equity firm with $285B under management.The firm will fund Andretti’s $200M facility in Indiana and cover the $200M F1 entry fee.Andretti still needs approval from the FIA. # F1 https://t.co/gg7cuaAWKl
The project wants to go beyond that in a facility that’s expected to be even bigger than Ferrari’s. Talking about the project, Andretti said:
“This isn’t about IndyCar. With this, we want to do something that’s never been done before. We want to be in all forms of auto racing, from Le Mans to Monaco to the Indy 500 and the Daytona 500. And eventually in the future, we want it all to be under one roof. That’s our big goal, and we’ve got a lot of plans in the works to get there.”
It is understood they will fund Andretti’s $200 million facility and pay the F1 entry fee.
This is huge for Andretti.
[eu.indystar.com]
| Andretti has reportedly received backing from Guggenheim Partners, a firm with over $285 billion in assets. It is understood they will fund Andretti’s $200 million facility and pay the F1 entry fee. This is huge for Andretti.[eu.indystar.com]
Group 1001 CEO Dan Towriss, who reportedly has a personal stake in the project, joined the names picked out by Andretti. Talking about their future plans to enter F1, Towriss said:
“We’re confident in the plans and what this means for our future. These plans run much deeper than a facility, and those are the plans we want them to see. I think a lot of times, the quotes that get pulled out (about the FOM’s reluctance on adding an 11th team) don’t really tell the full story.”
He added:
“There’s a lot of conversations going on, and we’re not trying to get out in front of anything or use the media as a tool to influence anything. They have an expectation on approach and decorum that people should take in dealing with them, and we respect that.”
Could Andretti be the 11th team in F1?
When it comes to Andretti joining the sport, the idea has been met with a cold shoulder more often than not by teams on the grid.
Mercedes boss Toto Wolff has been the most vocal against having an 11th team on the grid. Other than Zak Brown from McLaren, one of the few names who have shown optimism or given a thumbs up to Andretti’s entry, every other team has had a cold response for the American team.
One of the biggest reasons behind that has been the lack of global brand image for Andretti compared to an automotive manufacturer in Audi (a name that’s welcomed warmly, especially by Wolff).
Even if Andretti can put the project on the road, it’s difficult to see the American team fulfilling the criteria that F1 teams want them to before welcoming an 11th member to the grid.
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