Settlement reached in Andretti vs. Andretti lawsuit
In what could be billed as IndyCar's version of "Divorce Court," the Andretti vs. Andretti litigation has reached a swift settlement.
Andretti Sports Marketing filed a lawsuit against Andretti Autosport over control of the marketing and promotion company that were both owned by Michael Andretti. His partners in ASM - John Lopes and Starke Taylor - filed the litigation after Andretti dissolved Andretti Sports Marketing following a series of promotional disappointments at NOLA Motorsports Park in Avondale, Louisiana, and the Milwaukee Mile.
Through arbitration, Michael Andretti has agreed to sell Andretti Sports Marketing to Lopes and Taylor.
A statement was released on Wednesday from Mediator John R. Van Winkle and stated:
"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."
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