Report: Michael Andretti relinquishing stake in Andretti Global

Field Level Media|published: 09/27/2024, 1:47pm EDT

Friday, May 12, 2023, Michael Andretti, owner of Andretti Autosport, watches action during practice for the GMR Grand Prix at Indianapolis Motor Speedway.

Michael Andretti reportedly is relinquishing his ownership stake in Andretti Global, the motorsports company he has directed since 2002.

Citing "three people with knowledge of the move," Sportico reported Friday that the 61-year-old Andretti wants to transition from an operational role into a more strategic position.

Andretti currently is the chairman and CEO of Andretti Global, which declined Sportico's request for comment.

During his tenure, Andretti's teams have won four IndyCar Series championships and five Indianapolis 500 races.

Previously known as Andretti Autosport, the company was rebranded as Andretti Global in 2023.

--Field Level Media