Andretti explains why the Alfa Romeo deal failed

Control difficulties were at the heart of Andretti Autosport’s recent failed bid to buy a full ownership in the Sauber-run Alfa Romeo F1 team.

Andretti Autosport’s failed effort to buy a majority ownership in the Sauber-run Alfa Romeo F1 team was due to “control issues,” rather than financial roadblocks, according to Michael Andretti.

Andretti Autosport appeared to be closing in on an agreement to buy an 80 percent stake in Islero Investments, the current owner of Sauber, which runs vait the Alfa Romeo F1 team.

The deal, however, was called off before the US Grand Prix, with Andretti denying that it was owing to financial difficulties. Instead, he says issues regarding the control of the team ultimately ended 

“I’d just like to put an end to some of these rumours that the deal fell through because of financial reasons. That couldn’t be further from the truth. It had nothing to do with that,” Andretti said at the announcement that Devlin DeFrancesco will complete Andretti Autosport’s four-entry IndyCar line-up in 2022.

“It basically came down to control issues in the final hours of the negotiations. That’s what killed the deal.

“I’ve always said if the deal is not right, we’re not going to do it, and in the end it wasn’t right. So we continue to look for other opportunities.

“Unfortunately, at the 11th hour, control issues changed, and it was a deal that we had to step away from because we couldn’t accept it. I always said that we’re only going to do it if it’s right for us, and in the end it wasn’t right for us.”

Mario, Michael’s father, spoke out and stated that his son has been considering owning an F1 team for years.

When asked if his failed purchase of the Sauber Group had put Andretti Autosport’s interest in Formula One to rest, Michael responded no.

“Our eyes are always going to stay open, we’re always going to look for opportunity there,” said Andretti.

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