1m - IndyCar Michael Andretti
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- Associated Press
INDIANAPOLIS -- Michael Andretti called allegations that his IndyCar team is on the verge of insolvency unfounded.
The comments came Wednesday in a statement issued by the IndyCar team owner -- one day after details from a lawsuit were made public.
Two minority owners for Andretti Sports Marketing claim Andretti, who owns 60 percent of that company, attempted to cover debts incurred by his race team, Andretti Autosport, by borrowing money from other sources and using some revenue from ASM.