Green light for F1 team now really close says Andretti

Michael Andretti is hoping the green light for his Formula 1 team aspirations will be “a nice Christmas present”. It would be financed in part by Group 1001 – a financial services company that already sponsors Andretti’s Indycar team via the Gainbridge brand. Group 1001 CEO Dan Towriss played down rumours that Formula 1 as a block is opposed to Andretti’s team debut. Also involved in Andretti’s F1 bid is Guggenheim, owner of the LA Dodgers baseball team, which is said to be backing the new Andretti factory and willing to pay the $200 million entry fee. “We’re hoping in the next couple weeks,” Michael Andretti said.

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