Michael Andretti has stepped down from the helm of Andretti Global, his renowned motor racing empire.

Best known for its achievements in mainly US-based racing series, including Indycar, Andretti made global headlines in 2022 with its bid to enter Formula 1. As part of the effort, Andretti expanded its operations and preparations for the elite motorsport series.

Despite gaining approval from the FIA, Formula 1 – owned by Liberty Media – ultimately rejected Andretti's Cadillac-supported bid, which led to a US government investigation into what some called an anti-competitive decision.

In light of these developments, Andretti Global has now revealed that co-owner Dan Towriss has assumed full control of the organisation.

"Michael's goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team," the team said in a statement.

"Michael remains engaged and will continue to serve as a strategic advisor and key ambassador."