Weekly Wrapup

For the week of 5 August 2024

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

• Rwanda wants an F1 race

• 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

• Adidas is closing in on Audi deal

• Alpine announce Oliver Oakes, Hitech GP owner and former Team Principal, as new TP

• Domenicali talks about the future of F1

• 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

• Red Bull elect not to make any drivers changes

• CEO of the Canadian GP, Francois Dumontier, will step down after 30 years of organising the race

• Jack Doohan close to signing with Alpine for 2025

• Diego Tondi appointed Head of Aerodynamics at Ferrari

• Zandvoort CEO Robert van Overdijk denies rumours that Spa and Zandvoort would rotate on the calendar from 2025

IndyCar News

• Jamie Chadwick will test with Andretti in IndyCar

• Zane Maloney will test with Rahal Letterman Lanigan in IndyCar

WEC News

• Ferrari rules out running their 499P Hypercar in IMSA next year

• Ford considers hypercar to compete with Ferrari

• Team JOTA will become the Cadillac factory team in WEC Hypercar

NASCAR News

• NASCAR faces financial challenges

• Investors continue to kick the tires on NASCAR deals

• What’s going on with NASCAR’s charter system?

• NASCAR agrees to Netflix documentary despite charter system turmoil

• Juan Pablo Montoya will return to NASCAR at Watkins Glen

• Andretti Global remains interested in NASCAR

• The rise of hybrid tech in NASCAR

MotoGP News

• MotoGP celebrated the series' 75th anniversary by having the teams run retro liveries

Brand News

• BBS Autotechnik have filed for insolvency

• Fanatec owner, Endor AG, files for insolvency

• CrowdStrike not taking blame for Delta flight cancellations

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