2022 Newsmaker: Andretti plans $200M HQ, seeks F1 entry

Michael Andretti (AP photo)

Indianapolis-based Andretti Global’s announcement in August that it would build a global motorsports headquarters in Fishers came after several months of big news for its owner, Michael Andretti.

Andretti was one of the most successful open-wheel drivers in history, with 42 race victories, the most in the Championship Auto Racing Teams era and fourth-most all time in open-wheel racing. His race team, Andretti Autosport, has won four IndyCar Series championships and five Indy 500s.

His companies include Andretti Global—the parent of Andretti Autosport—and Andretti Acquisition Corp., a special purpose acquisition company, or SPAC.

In January, Andretti Acquisition Corp. made its initial public offering on the New York Stock Exchange with pricing of 20 million units at $10 per unit. It’s listed under the ticker WNNR.U.

At the time, the company said it was seeking “to focus on opportunities that can benefit from the iconic Andretti brand name, both inside and outside of the worldwide motorsports platform, and the expertise and ability of its management team to identify, acquire and grow a business in the broadly defined automotive industry.”

Meanwhile, Andretti has also trying to break into Formula One. Following unsuccessful attempts to purchase an existing F1 team in 2021, Andretti has petitioned to expand the current F1 grid to 22 cars to accommodate Andretti Global.

Andretti Global plans to move from Indianapolis to Fishers once construction of its 525,000-square-foot global headquarters is complete. The company plans to invest $200 million in the project, which will be built on 90 acres on the southeast quadrant of the Indianapolis Metropolitan Airport property near East 96th Street and Hague Road. 

The facility will serve as the headquarters of Andretti’s global commercial functions and the base of operations for the team’s current NTT IndyCar Series, Indy Lights and IMSA programs and other future racing initiatives. It will also be home to the research and development conducted by Andretti Technologies.

The campus is expected to create 500 jobs by 2026. 

“For us, it’s about more than just having somewhere to work on the cars. It’s about having a global motorsport home and sharing that with our people, our fans and our sponsors to advance the sport and leave a lasting legacy,” Andretti said.•

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