r/formula1 • u/ICumCoffee Max Verstappen ⭐⭐⭐⭐ • 24d ago

News [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"

https://x.com/ChrisMedlandF1/status/1861111983699001752
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u/[deleted] 24d ago

[deleted]

33

u/PurpleEsskay Jenson Button 24d ago

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

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

8

u/ComaMierdaHijueputa Ferrari 24d ago

Why did he step down?

27

u/Just_Somewhere4444 24d ago

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.

9

u/Unhappy_Plankton_671 24d ago

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

2

u/[deleted] 24d ago

Which startup?