In an earnings call yesterday, Liberty Media acknowledged the Department of Justice is investigating the company over anti-trust violations for refusing Andretti Global’s entry into Formula 1. Liberty added that they are not against expansion and will fully cooperate with the DOJ.
Andretti Global, partnered with General Motors' Cadillac, has been pushing to enter F1 as an 11th team, with efforts including establishing a base at Silverstone and recruiting key personnel like former F1 figure Pat Symonds.
Despite the FIA's technical approval of Andretti's bid, F1 rejected it, citing concerns about Andretti's competitiveness and commercial value. Current F1 teams are also hesitant to accept a new entrant due to prize money sharing.
Maffei stated that Liberty Media would fully cooperate with the investigation and maintained confidence that F1's actions were compliant with US antitrust laws. He emphasized that F1 is not opposed to expansion if a new team meets all criteria set by both the FIA and F1.
The investigation follows increased political interest, with the chairman of the US House Judiciary Committee launching a probe after Mario Andretti's appearance on Capitol Hill, prompting demands for explanations from F1's owners.
Formula 1 News
The FIA have released the 7th edition of the 2024 F1 Sporting Regulations
The F1 Commission has discussed a post-season young driver race
Former Alpine Team Principal Otmar Szafnauer involved in unnamed US-based F1 project
Alpine announce Oliver Oakes, Hitech GP owner and former Team Principal, as new TP
Max Verstappen tested a DTM car at Mugello and stunned the engineer
Renault engine factory staff threaten strikes if Alpine switches to Mercedes engines
McLaren extends contract with Team Principal Andrea Stella on a multi-year deal
Carlos Sainz signs with Williams from 2025 on a multi-year deal
CEO of the Canadian GP, Francois Dumontier, will step down after 30 years of organising the race
IndyCar News
WEC News
Ferrari rules out running their 499P Hypercar in IMSA next year
Team JOTA will become the Cadillac factory team in WEC Hypercar
NASCAR News
MotoGP News
Brand News
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