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Andretti seeking Formula 1 team buyout opportunity
Michael Andretti is reportedly seeking to expand his vast team ownership into Grand Prix racing through a buyout of an existing Formula 1 team. According to RACER, the Andretti Autosport boss is targeting a takeover opportunity and has held preliminary talks several teams including the Haas F1 Team. A buyout of an existing outfit rather than acquiring an entry is Andretti's preferred approach as any new competitor who wishes to join the grid is required to pay a $200 million entry fee, a provision that was inscribed in the sport's most recent Concorde Agreement and that is intended to protect the prize money of current teams. "It would be great, but there’s a long way to go if it...
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