"It was really disappointing" - When Michael Andretti's F1 bid to buy Sauber went wrong at the last minute

Michael Andretti, the former Formula 1 driver turned business owner, is a well-known name in motorsports. He successfully led the Andretti Global organization after acquiring full control over the company in 2009. But in 2021, he had to face major disappointment (failed to take control over the Sauber F1 team). In 2024, Andretti sold his team to Los Angeles Dodgers lead owner Mark Walter's TWC Global Holding company, and Dan Towriss stayed on as co-owner.

Andretti, having tasted the thrill of Formula 1 with McLaren (race driver) in 1993, has always adored the sport. He tried hard to get into it with his own team and in line with this, the 62-year-old revealed in 2021, how he narrowly missed out on acquiring Sauber a few weeks before the United States Grand Prix.

Back then, while making an appearance as the opening guest speaker on the RACER / EPARTRADE Online Race Industry Week, he added the following regarding the F1 deal.

"It’s the biggest racing series in the world and I think it could just do wonders for our brand. Internationally obviously, we are with Formula E and Extreme E, to do Formula 1 is the ultimate. I’ve always had interest in that. It was really, really disappointing that that deal didn’t come together." Andretti said.

Moreover, he further shed light on the same and asserted that the mega deal was only 48 hours away.

"We were literally 48 hours away from getting the deal done at that time as we thought. I still very much would like to do it, opportunities are becoming less and less, teams aren’t really for sale right now. We have to see what happens in the future."

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Michael Andretti pin-pointed what 'killed' the Sauber F1 deal in 2021

While Michael Andretti regretfully talked about missing out on acquiring a coveted place on the F1 grid in 2021, he also took the time to delve into the reasoning. As per the American former driver, control issues were the major Achilles Heel in the Sauber deal.

"It basically came down to control issues in the final hours of the negotiations. That's what killed the deal," MIchael Andretti said during an official IndyCar driver signing in November 2021 (via ESPN).

Other than this, the 62-year-old further insisted that finance was not a problem in the deal with the Hinwii-based Sauber outfit.

"I'd just like to put an end to some of these rumors that the deal fell through because of financial reasons. That couldn't be further from the truth. It had nothing to do with that."

Andretti Autosport has tasted success in several racing categories. The outfit, with Michael Andretti as its leader, has amassed several drivers' championships across various categories (IndyCar, Indy Lights, Global Rally Cross, Formula E, etc).