Michael Andretti Reveals Past Bid Interest in INDYCAR After Penske Takeover
In the world of American open-wheel racing, few names carry the weight, the history, or the sheer gravitational pull of the Andretti family. For decades, they have been the barometer by which speed and success are measured at the Indianapolis Motor Speedway.
But behind the trophies and the milk-soaked victory lane celebrations lies a complicated saga of ownership, ambition, and what might have been. The story of Michael Andretti and his relationship with the leadership of INDYCAR is one of the sport’s great modern dramas a tale of deep respect turning into a bitter philosophical divide.
Michael Andretti And The Missed Opportunity Of A Lifetime
Rewind the clock to November 2019. The racing world was still reeling from the seismic news that the Hulman-George family had sold the keys to the kingdom INDYCAR and the Indianapolis Motor Speedway to billionaire titan Roger Penske. It was a move that promised stability, but for Michael Andretti, it also represented a door closing on a personal dream.
Shortly after the acquisition, Andretti sat down for an interview during the “IMS Speaker Series.” When host Bob Jenkins asked the 1991 CART champion if he would have purchased the series himself had the offer been on the table, the answer was immediate and visceral.”I would have,” Andretti admitted, wearing his heart on his sleeve. “I would’ve jumped at it and you know, obviously, find investors to do it, but I would’ve loved to have a shot at this.”
For Andretti, this wasn’t just about business assets or media rights. It was about stewardship of a legacy. “I think there’s so many cool things you can do with this place, and the history, and you know, this is everything to us,” he said. That phrase “everything to us”encapsulates the burden and the pride of carrying the Andretti name.
A Legacy Built On Speed And Family Tradition
To understand why Michael Andretti felt such a pull toward ownership, you have to look at the bloodline. He isn’t just a team owner; he is the son of Mario Andretti, a man whose face is on the Mount Rushmore of motorsport. The racing bug that bit Mario and his twin brother Aldo didn’t just change their lives. It altered the trajectory of their entire lineage.
From Mario to Michael, and eventually to Michael’s son Marco, the family has poured their lives into the asphalt of the Brickyard. Owning the series would have been the ultimate culmination of that devotion. It would have created a fascinating, albeit complicated, dynamic similar to what Penske eventually established: a team owner also holding the keys to the sanctioning body.
Initially, Andretti was gracious about the Penske buyout. He was quoted saying he was “pleasantly surprised” and believed Roger Penske was the “perfect candidate” because of his personal pride in the venue. But as time wore on, the honeymoon phase evaporated, replaced by the harsh realities of modern sports economics.
When The Honeymoon Phase With Roger Penske Ended
Fast forward to 2024, and the tone had shifted dramatically. The mutual admiration society between the two titans of industry began to fracture over the future direction of the sport. The catalyst was the proposed “charter system” a structure meant to guarantee race entries for teams, similar to NASCAR’s model.
While the concept sounds solid on paper, the financial mechanics behind it infuriated Andretti. The proposal involved teams reinvesting prize money to help grow the series, a notion that Michael Andretti found insulting. He didn’t mince words, calling the situation “comical” in an interview with the Indy Star.
“First of all, $20 million isn’t going to do anything,” Andretti argued, referencing the capital needed to elevate the sport. “You’ve got to have five times that number – at least. And it’s like, ‘Don’t take our money, Roger. You bought the series. We don’t own the series.'”
The Public Fallout And Andretti’s Call For A Sale
The frustration boiled over when Andretti challenged the very ownership he had once praised. When faced with the argument that Penske’s conservative spending was due to a lack of revenue streams, Andretti’s response was blunt: if you can’t fund it, sell it to someone who can.
“There’s people out there willing to do it,” Andretti insisted, doubling down on his belief that INDYCAR is a “diamond in the rough.” His perspective was clear: the series needed massive cash injection to reach the next level, not penny-pinching from the teams that keep the show running.
It was a stark contrast to his 2019 optimism. The man who once said he would have “loved a shot” at ownership was now watching from the sidelines, disillusioned by the strategy of the man who beat him to the punch.
Walking Away From Pit Lane
The saga reached a quiet, somewhat melancholy conclusion following the 2024 season. Michael Andretti relinquished his ownership stake in Andretti Global, stepping back to focus on his family and other business ventures. It marked the end of an era for a man who had been a fixture on the timing stands for decades.
Ironically, shortly after Andretti stepped back, the series did adopt the charter system for 2025. Furthermore, Roger Penske eventually brought in outside partners, selling a 33% stake in the series and the Speedway to broadcast partner FOX. It was the kind of big-money move Andretti had been screaming for, arriving just as he was exiting the stage.
Final Thoughts
For the Andretti family, INDYCAR will always be home. But for Michael, the dream of running the show remains one of racing’s great “what ifs” a lap that was never quite completed. So, stay tuned for what’s next.
