The lawsuit between Andretti Sports Marketing and Andretti Autosport has been settled.
On July 30th, Andretti Sports Marketing, an entertainment and event marketing company filed a civil lawsuit against Andretti Autosport, the race team (Read more HERE).
The two parties have since reached a resolution and have settled the case. Andretti Sports Marketing will get a new name has been sold to John Lopes and Starke Taylor. The two were listed as the company president and vice chairman/treasurer prior to the lawsuit.
Andretti Autosport Statement
"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."
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