Michael Andretti has explained why his recent venture into Formula 1 with an attempted takeover of Sauber failed to materialise.
Sauber, who is behind the Alfa Romeo F1 team, was linked to a buyout from Andretti for a number of weeks prior to the United States Grand Prix.
However, it was reported during the US GP weekend that the deal was off the table, with financial reasons being the toppling factor.
Andretti denies that money was behind the failed deal, insisting that late changes regarding the control of the team meant an agreement could not be struck.
“I’d just like to put an end to some of these rumours that the deal fell through because of financial reasons,” Andretti said. “That couldn’t be further from the truth.
“That had nothing to do with that. It basically came down to control issues in the final hours of the negotiations. That’s what killed the deal.
“Unfortunately at the 11th hour, control issues changed, and it was a deal that we had to step away from because we couldn’t accept it. I always said that we’re only going to do it if it’s right for us, and in the end it wasn’t right for us.
“I think it would have been a huge story. It’s a shame it didn’t work out. But I don’t give up.”
Andretti also denied that Liberty Media, an American mass media company that control’s F1’s commercial rights, was involved in the negotiations.
With a seat at Alfa Romeo still yet to be filled for 2022, Colton Herta was being linked with the vacancy should Andretti have completed its deal with Sauber.
Andretti has now confirmed that Herta, who races for his IndyCar outfit, would have been the primary candidate for the open drive.
“Obviously if we do ever get a team, he would lead the way for us in terms of wanting to bring an American driver,” Andretti said.
“He’d be the perfect guy to do it. We were definitely were going to try to get him into the seat because I believe he could be a competitive driver in Europe. I really do. There’s no reason why he wouldn’t.”
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