Andretti Autosport owner Michael Andretti’s bid to take a majority shareholding in Sauber Motorsports AG, the parent company of the Alfa Romeo Racing ORLEN Formula One Team has failed Paddock Eye understands.

Longbow Financial who owns Sauber Motorsports AG, valued the organisation at $600 million, well over the estimated $400 million that Andretti and his investors were looking to put into the team.

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