In 1970, STP CEO Andy Granatelli founded the STP Formula One Team. Mario Andretti was hired to drive. The team competed a total of five races running a March Engineering chassis, their best result being a third place at the 1970 Spanish Grand Prix. In 1972 Granatelli agreed to sponsor NASCAR champion Richard Petty, but their deal almost fell apart before their first race. Granatelli insisted the car be STP day-glo red. Petty held out for his iconic Petty blue, and neither would budge. The resulting two-tone red and blue scheme became more famous than either color alone.