The Andretti Sports Marketing vs. Andretti Autosport lawsuit has been settled, with Andretti Sports Marketing now sold to John Lopes and Starke Taylor, and set to be renamed.
Andretti Autosport released a statement on Wednesday that reads as follows:
The parties involved in the recent filing of Andretti Sports Marketing v. Andretti Autosport reached a resolution Tuesday. The parties came to a preliminary settlement agreement through the assistance of Mediator John R. Van Winkle. Although the terms and conditions are confidential, the mediator commented that all parties, including Michael Andretti, John Lopes and Starke Taylor, went to extraordinary lengths to keep their employees, fans and the racing community in mind. There will be no further litigation and this matter will be dismissed. As a result of this settlement, the parties have agreed that Andretti Sports Marketing will be sold to Mr. Lopes and Mr. Taylor and will be renamed.
With this dispute closed, the parties and their executives remain focused on their future businesses.
Lopes and Taylor, as Andretti Sports Marketing, filed a civil lawsuit last week in Marion County Superior Court (Ind.) against Andretti Autosport.
Michael Andretti had issued a statement that Lopes and Taylor were trying to benefit themselves at the expense of the Andretti name. That statement is below:
“This lawsuit is a disingenuous and self-serving attempt to benefit John Lopes and Starke Taylor at the expense of Andretti Autosport and its 120 employees. The allegations by Lopes and Taylor will not be supported by the evidence and we will aggressively respond with the truth.
“My family has strived to earn an exemplary reputation in all facets of our personal and professional lives. We will not allow this reckless attempt at grabbing leverage to impact our family name.”
Both companies continue on, with the Andretti Autosport side of the program having its next race this weekend at Pocono Raceway.