Andretti Autosport will not be taking over the Alfa Romeo F1 team, The Race reports, with financial obstacles proving too great for the American-based firm to overcome.

The word in the paddock in recent weeks has been that the Michael Andretti-led takeover was almost a foregone conclusion and that, though it would not be confirmed at the US Grand Prix last weekend, it was as good as done.

Indeed, the talk was that IndyCar star Colton Herta would be swapping over to Formula 1 to give the team an American presence behind the wheel but it now looks as though that has been shelved for the immediate future at the very least.

The Race reports that Andretti Autosport cannot meet the financial demands of the current owners of the Sauber and Alfa Romeo group and will therefore not be proceeding with their attempted takeover, meaning we're still no closer to seeing who's going to be partnering Valtteri Bottas within the team for 2022.

The Finn joins from Mercedes as Kimi Raikkonen bows out of the sport and Antonio Giovinazzi is yet to be confirmed, with him being linked with the WEC among other formulas in recent weeks.

It appears the second seat is still up for grabs, though, so we'll have to wait and see who's going to get it.