Michael Andretti hands over control of race team to business partner. Formula 1 plans in limbo

Michael Andretti has restructured Andretti Global to give co-owner Dan Towriss control of the organization while Andretti will stay on as a strategic advisor of the team he has led since 2002.

Andretti in early 2023 confirmed he'd sold part of the company to Towriss, owner of Gainbridge and holding company Group 1001. Gainbridge is one of the largest sponsors in IndyCar and also sponsors Andretti driver Colton Herta's car.

The team has rapidly expanded with Towriss' influx of cash, and Towriss has been part of Andretti's push to join Formula 1. Andretti is still listed as CEO and chairman of Andretti Global, which is the name the team changed to when Towriss became part of the ownership group.

“Michael's goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team,” the team said in a statement. "Michael and Dan Towriss have been working closely on developing this new structure, one which Michael is excited to see take shape under Dan's guidance.

“Michael remains engaged and will continue to serve as a strategic advisor and key ambassador.”

The team said it would share more details of the changes “after Michael and Dan have had an opportunity to speak to the team.”

Andretti Global fielded three IndyCar teams this season and won the season finale with Herta at Nashville Superspeedway. Andretti drivers have won the Indianapolis 500 five times.

It was not immediately clear what happens next with Andretti's ongoing effort to enter F1.