The Latest Breaking News from Dan Towriss

General Motors' bid to enter Formula 1 has picked up fresh momentum, with talks between the series and the manufacturer understood at an advanced stage over a 2026 entry as an 11th team.

Michael Andretti has released his first statement since it was announced he was stepping back from his day-to-day running of Andretti Global, insisting it "isn't a goodbye" from the team run under his name.

Michael Andretti is taking a step back from his ownership role of Andretti Global, but will remain a key part of the organisation as an ambassador and advisor.

Michael Andretti is taking a step back from his ownership role of Andretti Global, but will remain a key part of the organization as an ambassador and advisor.

Michael Andretti has restructured Andretti Global to give co-owner Dan Towriss control of the organization

Andretti has begun a move into a new facility on the Silverstone Park estate as its F1 project continues to progress, and the plan is to also occupy an adjacent larger building.

The team was granted an entry by the FIA last October, but failed to pass the second stage of the process when F1 did not approve its bid in a statement issued on January 31. The project thus remains in limbo while discussions continue behind the scenes.

The company, which is owned by former racing star Michael Andretti and Dan Towriss, the CEO and president of financial services company Group 1001, is making the move as it bids to join the Formula 1 grid in future in partnership with General Motors.

Gainbridge, along with parent company Group 1001, is in its sixth year of sponsorship with Andretti Autosport, and its fifth season being represented in the NTT IndyCar Series. This year’s 107th running of the Indy 500 will be the fourth with Gainbridge as presenting sponsor.