LOS ANGELES (REUTERS, AFP) - American motor racing entrepreneur Michael Andretti has applied to launch a new Formula One team starting from 2024, his father Mario said on Friday (Feb 18).

The younger Andretti, a former IndyCar champion and grand prix racer, had been in takeover talks with the owners of Sauber, who run the Alfa Romeo team, but said in November last year that "control issues" led to a collapse of negotiations.

"Michael has applied to the FIA to field a new F1 team starting in 2024," Mario Andretti, the 1978 Formula One world champion, wrote on Twitter.

"His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA's determination."

Michael Andretti has interests in IndyCar, the electric Formula E and Extreme E series as well as sports cars.

Andretti Autosport did not immediately confirm any details, but Mario told IndyStar.com that his son would be "ready to go the next day" if his application to form a new team is approved.

Mario Andretti told IndyStar that the two-car team would be named Andretti Global and would be based in England, with the cars to be made at a proposed facility in Indianapolis near the team's IndyCar headquarters.

He said the team had secured an engine partner, but did not name them.

"Michael has been working on this for quite a long time, but he's taken a different direction since there's no teams available to buy," Mario said.