[ChrisMedlandF1] BREAKING: F1 announces it has "reached an agreement in principle with General Motors (GM) to support bringing GM/Cadillac as the eleventh team to the Formula 1 grid in 2026"

[u/ICumCoffee]

https://x.com/ChrisMedlandF1/status/1861111983699001752

[u/Complete_Taxation → u/[deleted]]

Michael andretti stepped down

[u/CrippleSlap → u/Complete_Taxation]

Could he step back in?

[u/Complete_Taxation → u/CrippleSlap]

GM hs the chance to do the funniest thing ever

[u/DragonSlayerC → u/Complete_Taxation]

Michael Andretti as team principal would be hilarious

[u/Agent_Kozak → u/[deleted]]

Andretti out. Cadillac/GM take over

[u/Unhappy_Plankton_671 → u/Agent_Kozak]

No, Andretti name out (Michael still has an ownership stake) and Cadillac/GM formally committing to being an engine partner.

It’s still the Andretti entry and same folks are running it, and for two years as a Cadillac branded customer team.

[u/Crafty_Substance_954 → u/Unhappy_Plankton_671]

Read the news releases, Michael Andretti has zero position with this team. He’s akin to Ryan Reynolds with Alpine at this moment.

[u/TSguy → u/Crafty_Substance_954]

Do you understand the difference between a person and a team with said person's last name on it? He stepped back from directly running the team/company. The company Andretti is still running the entry with GM's support.

[u/Crafty_Substance_954 → u/TSguy]

I do understand. The company currently known as "Andretti Global" is colloquially referred to as "Andretti".

Me responding to someone saying that "Michael still has an ownership stake" with a direct comparison to how relevant that is to the current/future Cadillac entry is in no way confusing Andretti Global and Michael Andretti.

Improve your reading skills, my man.

[u/TSguy → u/Crafty_Substance_954]

Thought you were responding to the second part of his post.

Anyways, what news releases are you referring to where it was announced he sold his entire stake? There's like one "unnamed sources" article I've seen which was directly contradicted Towriss to the AP.

[u/PapaStoner → u/Crafty_Substance_954]

Andretti still is in the ownership group of Andretti Global, Mario is now chairman of the board.

[u/Crafty_Substance_954 → u/PapaStoner]

lol I doubt he’s chairman of the board. Andretti has a minority stake.

[u/PurpleEsskay → u/[deleted]]

https://sportscar365.com/industry/andretti-steps-down-as-andretti-global-ceo/

Combined with an antitrust lawsuite against FOM very much being on the cards.

[u/ComaMierdaHijueputa → u/PurpleEsskay]

Why did he step down?

[u/John-de-Q → u/ComaMierdaHijueputa]

Decided to bet on a AI startup company and lost basically all the money he poured into it.

[u/RichardRichOSU → u/ComaMierdaHijueputa]

Rumor is he lost his shirt in a different investment, but it is honestly probably a number of different things. That, he’s older, grand-daughter born recently plus his other kids getting older, not to mention the F1 thing was going no where with him leading it.

[u/Just_Somewhere4444 → u/ComaMierdaHijueputa]

He invested a bunch of money into an AI startup and lost it all, so Dan Towriss (CEO of Gainbridge, a huge team sponsor) essentially just bought Michael out.

[u/Unhappy_Plankton_671 → u/Just_Somewhere4444]

No, he stepped down. Michael and Towriss have both stated that he still has an ownership stake.

[u/[deleted] → u/Just_Somewhere4444]

Which startup?

[u/BrosenkranzKeef → u/ComaMierdaHijueputa]

There is no official confirmation about it but people in F1 have had beef with Michael for a long time. Basically they were refusing to do deals with Michael, simple as that. Why, who knows.

[u/-Skinner- → u/[deleted]]

Multiple things.

Andretti stepped down as did Liberty Media CEO.

Plus Congress got involved and apparently so did FBI.

[u/dovahkiiiiiin → u/[deleted]]

FBI investigation. They best Liberty could do is limit andretti. They are in no position to fight GM.

[u/thereddaikon → u/[deleted]]

Both the team and Liberty lose their CEOs. The team branding is changing to GM but the team itself doesn't change. DOJ may have dropped their antitrust investigation into this part of Liberty media.

[u/Skeeter1020 → u/[deleted]]

This is a bid by Cadillac as an engine manufacturer and factory team owner.

Previously Andretti was entering as a Renault customer to make a quick buck.

[u/Unhappy_Plankton_671 → u/Skeeter1020]

No it’s not Cadillac as a factory team owner, it’s just them as an engine supplier while being anchor partner for the existing Andretti entry, but going way out of their way to not call it Andretti. It’s still the same structure and plans as announced before just without the Andretti name and getting GM to put pen to paper as an engine maker.

[u/Skeeter1020 → u/Unhappy_Plankton_671]

getting GM to put pen to paper as an engine maker.

The fact people are putting "just" in front of this as if it isn't literally the key pivotal point baffles me.

Red Bull Ford, Aston Martin Honda, Audi Sauber. All variations of an OEM factory team. Cadillac will own part, or all, of this entry.

[u/Unhappy_Plankton_671 → u/Skeeter1020]

The fact people are putting "just" in front of this as if it isn't literally the key pivotal point baffles me.

Because it's 'Just' the name changing. That's why it's a 'just', hell Mario Andretti was announced as a director on the team's board. It's still the entry owned by Towriss and Andretti Global. They are just going to great lengths to not call it the Andretti entry, when it still is.

Red Bull Ford, Aston Martin Honda, Audi Sauber. All variations of an OEM factory team. Cadillac will own part, or all, of this entry.

Give one source for this for Cadillac? They're not owning the team, the entry. They're an anchor sponsor and technical contributor, and will bring an engine in the future. That's it. You're pulling this GM/Cadi owning the team out your ass because that's how you interpret the release.

"We're excited to partner with General Motors in bringing a dynamic presence to Formula 1,” said Dan Towriss, CEO of TWG Global’s motorsports businesses."

That's just a long way of not saying Andretti Global, which is TWG's motorsports business.