Andretti pulls out of Alfa Romeo deal
Andretti had been looking to join the F1 grid with Alfa Romeo
Michael Andretti has ended his interest in investing in Sauber, GPFans understands.
Reliable sources have indicated the Andretti name will not be returning to F1 as had been hoped by acquiring an 80 per cent stake in Islero Investments, the Swedish-owned, Swiss-based company that runs Sauber and in turn the Alfa Romeo F1 team.
Rumours had suggested a deal with Andretti could have been completed over the United States Grand Prix weekend only for financial disparities to arise, despite an offer on the table GPFans discovered was just over $300million.
According to Auto Motor und Sport, Sauber owner Finn Rausing was also apparently seeking an additional $50m per annum for the next five years - paid up front - to ensure Alfa Romeo could operate at the budget cap should sponsorship difficulties arise.
The twist in the tale has resulted in Andretti backing out of negotiations.
Following Alfa Romeo's signing of Valtteri Bottas from Mercedes, IndyCar star Colton Herta had been speculatively linked to the second seat as part of a deal with Andretti - despite lacking the required superlicence points.
With the move collapsing, Alfa Romeo could now pursue Alpine-backed F2 driver Guanyu Zhou, who is understood to be strongly supported financially.
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