Michael Andretti to take on ambassadorial and advisory role with the racing outfit he founded in 2002.

"Michael's goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team," read a statement issued by Andretti Global.

"Michael and Dan Towriss have been working closely on developing this new structure," it continues, "one which Michael is excited to see take shape under Dan's guidance.

"Michael remains engaged and will continue to serve as a strategic advisor and key ambassador. We will have more to share in the coming weeks, after Michael and Dan have had an opportunity to speak to the team."

In 2018, Towriss and his Group 1001, "a collective that empowers companies to create positive growth", sponsored Zach Veach in the number 26 Andretti car, and in 2022 bought an ownership stake in Andretti Global as part of the move to enter F1.

The move comes at a time the US Department of Justice has launched an antitrust investigation into Liberty Media in a bid to discover if the rejection of Andretti entering the sport was legal.

"We've really been on the same page across the board, so it was an easy conversation," Towriss told the official IndyCar website last year when he was asked about the 2022 buy-in.

"I do think we brought it up first," he said of the move to become co-owner, "but he was very open to that. He was like, 'Of course', and he was very welcoming. So, we're partners in the truest sense.

"It's a very easy relationship, even on the hard days. There's just so much respect, and we'll talk about his perspective and my perspective.

"My strength is business, not racing, so I don't offer opinions on setups and drivers and tyre strategy, those kind of things. I'm very involved in the business side, and Michael and I talk multiple times a week.

"There's never a week that goes by that we don't speak on the phone. It's definitely a lot of collaboration back and forth. It's been fun; we've learned a lot from each other."

As Michael Andretti steps back, it is worth recalling that his father, the legendary Mario Andretti, claims that Liberty CEO, Greg Maffei once told him that he would do "everything in my power to see that Michael never enters F1", perhaps Towriss might be more acceptable.

It's believed that Towriss' investment in Andretti Global matches that of Andretti, though there are claims that it exceeds that of the team's founder.