Michael Andretti to takeover existing F1 team?? Reports . . .

Toto is a fan of F1 and vested. Even with hint of bias from that he is correct. Also the data I post from PlanetF1 sounds like Andretti is not so close to a deal. This is not strange but much of these deals are not so public. I do not recall such press for Williams

 

Not completely sure about some of the backmarkers, but probably yes. They get $ from their sponsors and of course from the TV money.

 

I'd love to see a full accounting...what they spend to run a season...everything they spend including any payments made to drivers...all of it. Then I'd like to see how much they receive, from TV, the FIA, etc., plus sponsor money, prize money...etc. If they are "making money" is has to be with funny bookkeeping.

 

Yes.
Sponsors, F1. They're definitely not in it for the "sport" of it.....

 

Why? What could he hope to accomplish? F1 is a bad joke. You can’t fix stupid.


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Depends

'Didn't know F1 was trying to be funny.....
Also, I surely don't consider myself or the many fans I've met (likely most of the rest of the millions) over the years "stupid" for following this "unfixable" endeavour that's been around for only 71 years (much longer if you consider Grand Prix racing prior to picking up the name "Formula One").....

 

You have to admit F1 today is boring. Frankly, it is amazing how the powers behind it have managed to turn F1 into something only slightly more exciting than watching bowling. I say this as a racing fan, not a Ferrari fan.

Thinking about it. The only reason I watch are the in car cameras. This is about as close as I’ll ever get to the real thing.


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I can't say that I do. I'm just as excited now as I was 60ish years ago; being priviledged to enjoy witnessing the very best doing what they do (every aspect....from the front office to the checkered flag).

The "powers that be" haven't lessened the excitemnt of the highest technical auto racing vehicles on the planet. I'm not particularly a Ferrari fan, I appreciate every team out there; I say it as a previous racer, and a fan.

 

https://www.autosport.com/f1/news/haas-wouldnt-see-andretti-formula-1-involvement-as-a-threat/6697563/

Haas wouldn’t see Andretti Formula 1 involvement as a threat
By: Luke Smith
Co-author: Oleg Karpov
Oct 22, 2021, 5:06 AM
Haas would not see any potential move into Formula 1 by Andretti Autosport as a threat, believing there would be “not a lot of change” in the American market.
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Haas became the first American team to compete in F1 since 1986 when it joined the grid in 2016 after NASCAR team co-owner Gene Haas established a new start-up squad.

But Haas could be joined by another American racing marque in the near future as Andretti Autosport closes on a majority stake in Sauber, which runs the Alfa Romeo F1 team.

Andretti has been interested in F1 involvement for some time as it looks to add to a racing portfolio that already stretches across IndyCar, Indy Lights, Formula E, Extreme E and Supercars.

Speaking ahead of the US Grand Prix in Austin, Haas F1 team boss Gunther Steiner downplayed the impact of another American outfit possibly joining the grid, saying the US identity was not one the team had properly pushed.

“I don't see anybody as a threat, we have no issue with that one wherever the team is from,” Steiner said.

“But I think what we didn't do, we didn't exploit the American market, the sponsorship market as much as we should have, because otherwise we would have more American [logos] on the car.

“Everything needs to be American all of a sudden, and everything sounds to be focused on America, but I think there are other countries as well.

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Guenther Steiner, Team Principal, Haas F1

Photo by: Andy Hone / Motorsport Images

“Because Austin is now on, there's a lot of focus on it. But there hasn't come anybody knocking on our door with a big sponsorship and saying because we are American, this is what we are going to do, or this is why we are going to support an American driver.

“There is no magic in this game. And whatever happens, there will be not a lot of change. So there is a lot of talk at the moment, but we need to walk now.”

Despite having a headquarters in Kannapolis, North Carolina, Haas also has bases for its F1 team in the UK and in Italy. Its title sponsor, Uralkali, is Russian, and it has never fielded an American driver.

Asked if Andretti had ever approached him about a deal with Haas, Steiner replied: “I don't know what Michael is doing, to be honest.

“I spoke with Michael [Andretti] a few times. Not lately, honestly.

“I don't know what Michael is trying to do. Everybody knows each other in American racing, and maybe there were talks, but maybe not as concrete as you think they are.”

 

AMuS

According to our information, it currently does not look like a takeover of Sauber by Andretti. The purchase price of 350 million euros plus a bank guarantee of 250 million seems to be too much for the investors.

Is clean too expensive for Andretti

Andretti deal is on hold

Formula 1 has been dealing with this topic since the end of August. Michael Andretti wants to buy 80 percent of Alfa Sauber with a group of investors. The deal should be announced in Austin. But now he is apparently on hold.

https://www-auto--motor--und--sport-de.translate.goog/formel-1/andretti-sauber-deal-f1/?_x_tr_sl=de&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=nui,sc

 

There never was a deal. This admitted this last week. It was in the press. If something in F1 comes along he would be interested. His words in a basic sense.

 

Michael is an absolute jerk , total opposite of Mario who is pure class . I hope he never gets to own an F1 team , mind you , I don’t think he would know how to run one and being the prima Dona that he is , would never put the time and effort to even be a front runner.
Indy Car and F1 are not the same , not even close

 

No deal - it apppears. https://www.gpfans.com/en/f1-news/71397/andretti-pulls-out-of-alfa-romeo-deal/

 

Racer also reporting that the deal is off.

https://racer.com/2021/10/28/andrettis-sauber-f1-deal-called-off/

BHW

 

There never was a deal to call-off. This was an 'approach'. A response with conditions was made, and the party attempting to buy didnt have the resources, to satisfy and close it.

 

I believe that to be the case having read an interview with Vasseur.

 

I cant see how Sauber's value is much more than $500M...? its a lot of money for one of the slowest teams out there. how many multiples on this are they projecting. from a purely financial perspective, there cant be much margin in a deal like this?

 

It might be that the price tag on Sauber is higher than usual as their factory is in Switzerland and they have to pay Swiss wages, a country that has some of the highest standards/costs of living. Just guessing.

 

This and the 'alignment' with Ferrari are of value. Reproducing the facilities and systems would be very expensive elsewhere no matter. The budget cap may be appealing but this is an expensive sport for just moving to new place. Andretti simply didnt have the finances. Not to just take almost mid pack team and then keep running it. He is out of his league for now. He will need double published investment obtained in my opinion.

 

This is a toy for Sauber...he is enjoying playing the game and has no reason or need to sell. But he probably enjoys making outrageous counter offers, just to see what others do. Andretti, on the other hand, even though he has a lot of money, he is a relative working stiff...this is his one and only business...this is how he feeds his family and pays his employees. He races to win because that is where the money is for him. Andretti just doesn't have deep enough pockets to play the F1 ego game.

 

Rubbish. Sauber value is basically its part on the Formula 1 current and future revenue rights, minus liabilities. Wages have lno effect on that and facilities make little difference.

 

Who are you talking about? Peter Sauber doesn't control Sauber for a long time. The majority owner is the Tetra Pak heir.

 

If I'm wrong, I stand corrected. However I feel pretty sure that he exercises more control than his percentage of ownership might indicate.

 

Wrong again, Finn Rausing -majority owner- decides. He is the one who was concerned about Junior Andretti's project viability. Peter Sauber is just a retired person observing how this evolves.