Evolution Development Group (EVO), an athletic development company that aims to fund up-and-coming competitors through fan investment, has linked up with Andretti Autosport to bolster the team’s driver selection program. EVO aims to provide services including management, training, promotion and nutrition guidance for drivers who have been scouted by Andretti Autosport and EVO, but need extra support to help them succeed.
As a part of the deal, Andretti Autosport has taken an equity stake in EVO’s business, which plans to allow the average person to invest in their company, and get a cut of the earnings of all the athletes EVO intends to develop—across a myriad of individual professional sports (beyond just auto racing).
“The biggest problem with racing is that it’s very expensive to race,” said Michael Andretti, Chairman and CEO of Andretti Autosport. “You can have all the talent in the world and love it more than anything, but if you don’t have the backing, you’re probably not going to make it. There’s a lot of talent sitting on the sidelines that could have been champions. To have a platform like EVO, it’s huge for a young, true talent.”
“EVO is solving a problem for Andretti Autosport by further developing drivers that otherwise may be left behind because they lack the resources to become tomorrow’s champions, but not the talent,” said John Norman, CEO of EVO. “EVO plans to offer athletes everything they need to reach their goals, and the Andretti Autosport partnership is the first step in building future athletes.”