Mario Andretti announced on Twitter that his son, Michael, applied to field a Formula One team in 2024 and is waiting to hear from the FIA.
“His entry, Andretti Global, has the resources and checks every box,” Andretti said. “He is awaiting the FIA's determination.”
The younger Andretti was in talks last year to takeover of Sauber's Alfa Romeo Formula One team; however, the two sides reportedly could not reach an agreement. According to Auto Motor und Sport, Andretti would have needed to pay a bank guarantee of $250 million to operate the team for the next five years on top of a rumored $350 million purchase of the team.