America has moved a step closer to gaining a second Formula One team, after Andretti Autosport reportedly received huge financial backing from a private equity firm.
The group, led by Michael Andretti – son of former F1 champion Mario – currently has teams in various series, including IndyCar, Formula E and Extreme E, but has yet to break into the F1 market.
Now, though, it appears the Formula One dream is a step closer, as Front Office Sports reports they have received a cash injection from private equity firm Guggenheim Partners, who have $285billion in assets under management.
- Haas are currently the only American-based Formula One team on the grid
- They could soon be joined by Andretti Autosport after they received backing
- Private equity firm with $285billion in assets will pay Andretti’s F1 entry fee
- Now they need to convince the other F1 teams to allow them to join the sport
Total Page Visits: 422 - Today Page Visits: 1
