REPORT: Andretti Autosport Moves Closer to Potential Sauber F1 Takeover

The buzz around the driver’s market has settled a bit, as almost all F1 teams have announced their line-ups for the 2022 season. Since then, there have been rumors brewing around American racing outfit Andretti Autosport’s potential entry into Formula 1.

Many assumed it was just another rumor which was never going to capitalize in reality. But it looks like Andretti are indeed targeting a buy-out of Alfa Romeo Racing, led by Swiss outfit, Sauber.

And to bolster the statement, F1 reporter, Michael Schmidt, affirmed that there is an offer on the table. Hence, with Andretti making the first move, all eyes will now rest on Sauber’s decision – are they going to accept the offer or reject it?

What did the F1 reporter say?

Speaking to Auto Motor Und Sport, Schmidt revealed that Andretti are pushing hard to claim the ownership of Alfa Romeo. This urge comes months after Andretti’s pursuit of the Haas F1 team failed, with Gene Haas, rejecting their offer straightaway.

But looking at Alfa Romeo’s financial condition, they don’t seem to be in debt as of yet. The Ferrari-backed outfit are looking to stay in Formula 1 for as long as possible. And with F1 bringing in drastic changes in the coming years, the popularity of the sport is going to explode and demands are going to soar high.

“There is an offer on the table,” Schmidt said according to PlanetF1. “The question now is whether the owner of the Sauber racing team is happy with it or not. It is a bit difficult to judge as they do not need the money urgently, and are huge racing fans.”

Schmidt reveals Toto Wolff’s point of view

According to Schmidt, Mercedes F1 boss, Toto Wolff, pointed out the absurdity of selling an F1 team at this time of the era. The Austrian apparently felt that giving up an outfit now is crazy, as the present teams’ worth will likely grow over following seasons.

“Toto Wolff told me: whoever sells their F1 team now, must be crazy,” Schmidt said. “The team will be worth much more in one year, and even more in two years. F1 is booming.

“A regulation change is coming up which could give equal opportunities, and the budget cap… nobody knows who will win. This generates more interest, which means more money and that means the team’s worth increases. Toto Wolff says he would definitely not sell now.”

Overall, watch out for the developments surrounding Andretti’s potential buyout of Sauber. The decision could go either way. Yes, the value of F1 teams are going to creep up in the coming seasons, but could Sauber’s desperation for financial stability hand Andretti a jackpot?

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