Andretti Autosport Transforms into Andretti Global

American motorsports powerhouse Andretti Autosport will undergo a transformation in 2024, with the company's entire organization set to be rebranded Andretti Global.

Co-owned by former American driver Michael Andretti and Dan Towriss, the CEO and president of financial services company Group 1001, the company currently operates in the NTT IndyCar Series in Indy NXT, and in the IMSA SportsCar Championship in the United States, and internationally with a presence in the FIA Formula E Championship, in Extreme E and in the Australian Supercar championship as a partner in Walkinshaw Andretti United.

Andretti Global, in partnership with GM/Cadillac, is also bidding for an entry into Formula 1, and a crucial decision on its prospective participation in Grand Prix racing anticipated from the FIA and day now.

The rationale behind the rebranding effort is to consolidate all facets of the organization under a unified name, further solidifying its connection with the team's already-established rich legacy.

• Read also: Andretti F1 buy-out efforts unsuccessful: 'Nobody wants to sell'

As part of this transition, the existing Andretti Autosport emblem will be replaced by the Andretti Global logo.

"I’m proud of what Andretti Autosport has accomplished over the years, and all the memories that have come with so many special moments," said Michael Andretti.

"Just as proud as I am of our past, I’m equally excited about our future. As we continue to expand and build a global racing institution, our goal is to be engrained in the culture of our fans, teams and partners.

"This rebrand is a major milestone in our team’s journey, but we are only getting started. We are determined to achieve success and confident that there are big things in store for Andretti Global."

Towriss added that bringing all of the team's racing endeavors under the Andretti Global name perfectly aligns with the racing conglomerate's far-reaching ambitions.

"The words Andretti and motorsports are synonymous, and I’m impressed and excited by the worldwide fanbase and reach of the Andretti name," he said.

"I’m proud to be working with Michael and his team to build that name and legacy into an even stronger brand that reflects our ambitions and values.

"We are committed to excellence, and I believe our work will benefit our fans and partners around the globe."

Keep up to date with all the F1 news via Facebook and Twitter