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erienewsnow.com 13 Jan, 2022 20:00 am

Racing legend Michael Andretti is taking a spin on Wall Street - Erie News Now

Racing legend Michael Andretti is taking a spin on Wall Street - Erie News Now
By Paul R. La Monica, CNN Business

CNN Business spoke with Andretti, co-CEO of Andretti Acquisition and head of the Andretti Autosport racing team, as well as his fellow co-CEO, Bill Sandbrook, former CEO of US Concrete, which is now owned by Vulcan Materials, and chief financial officer, Matt Brown, about what's next for Andretti Acquisition.But Andretti said that even though there were rumors last year that Andretti Autosport wants to buy a Formula 1 team, investors shouldn't expect the SPAC to make any direct investments in the world's top racing circuit — despite the Netflix boost that F1 has gotten."There has been a lot of speculation about how I've been looking to get involved in Formula 1, but we're not going to do it through the SPAC, which is independent of Andretti Autosport.Andretti Autosport already has a team that competes in the Formula E series for electric race cars.

La Monica, CNN Business Auto racing is arguably hotter than ever, thanks in part to the super popular Netflix series "Drive to Survive," which has given viewers an intimate, behind the scenes look at the Formula 1 racing circuit.The Andretti name is legendary in the world of auto racing.

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