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Andretti Autosport To Become The 11th Formula 1 Team!
Manage episode 350701502 series 3090689
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In this episode I discuss the news that Andretti Autosport won't have to worry about the financial barrier of entering Formula 1.
The group received key backing from Guggenheim Partners. Andretti Autosport now just needs the green light to enter Formula 1 as the 11th team.
The American racing giant received key financial backing from Guggenheim Partners, a private equity firm with $285 billion in assets under management.
The firm will provide funding for Andretti’s $200 million facility in Indiana. It will also cover the $200 million entry fee for Formula 1, a sum intended to offset revenue dilution for other teams.
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