Former Formula One driver and Indycar champion Michael Andretti has taken over 100 per cent ownership of his Indycar team, following a restructuring of the organisation. Previously known as Andretti Green Racing, after Andretti and Kim Green, the team will now be known as Andretti Autosport. New corporate branding was released to reflect the change.

Andretti and his former business partners, Green and Kevin Savoree, announced in August that they were to amicably begin the process of splitting their racing and promotions operations into two. That process has now been completed with Green and Savoree concentrating on Andretti Green Promotions. That company organises the Indycar Series events in St. Petersburg, Florida and Toronto, Canada.

Andretti called it a “great day for all of us” as he announced the transaction, precise details of which were not revealed. He said: “We’re very excited about the future of the team and we are looking forward to being a contender again in 2010.”

As Andretti Green Racing the team won three Indycar Series titles and two Indianapolis 500s, the most recent of which came in 2007. The team boasts leading female racer Danica Patrick and Michael’s son Marco Andretti amongst its driver line-up.