2024-08-08 19:41:55
Formula One owner Liberty Media is the target of a U.S. Department of Justice investigation. The reason is that Andretti’s application for a starting position in the American team was clearly rejected. In May, six U.S. senators asked the Justice Department to review the rejection because they suspected the move violated antitrust laws. “We intend to fully cooperate with this investigation,” Liberty Media President Greg Maffei assured.
After months of testing, at the end of January, F1 leadership made it clear that Michael Andretti’s team would not be allowed to participate in next year’s series. The World Motorsport Federation (FIA) had previously promoted starting locations for two other racing teams and backed Andretti’s efforts. What followed was a difficult process and fierce debate, including with the ten current Formula 1 teams.
The racing series leadership has concluded that an eleventh team will not bring any added value starting next year. Current racing teams are already critical of expanding the field of participants because it would require them to share billions of dollars in revenue with other teams. Maffei now says Liberty Media is open to new participants to apply and potentially be admitted if they meet certain requirements.
Formula 1 has also justified its negative decision in 2025 with major engine rule changes starting in 2026. of the drive, which was considered virtually hopeless. Andretti still believes Formula 1 has a chance to take off, but only in four years. Then GM wants to partner with Andretti in the racing series as an independent engine supplier.
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#U.S #Department #Justice #investigating #Liberty #Media
