The Liberty Media and Andretti F1 saga takes a surprising turn as the U.S. Department of Justice steps in.
- In January 2024, Andretti Global’s bid to join Formula 1 was rejected by F1, sparking controversy.
- U.S. lawmakers hinted at an antitrust investigation, aligning with the involvement of General Motors and its Cadillac brand.
- Liberty Media’s Greg Maffei is allegedly opposed to Andretti’s F1 entry, as per Mario Andretti’s claim.
- Greg Maffei confirmed the DOJ probe, acknowledging that Liberty Media will cooperate fully while defending their decision.
Mario Andretti appeared in front of the U.S. Capitol on May 1, 2024, advocating for Andretti F1’s entry into Formula 1. The Department of Justice’s Antitrust Division has officially begun investigating Liberty Media, with its CEO Greg Maffei confirming the probe due to the denial of Andretti Global’s entry into the championship.
Andretti Global’s initial bid to join Formula 1 as an 11th team was rejected by F1 in January 2024. F1 cited the lack of additional value and the underpreparedness of the Andretti proposal as reasons for the denial, much to the disappointment of fans.
Ahead of the Miami Grand Prix, Mario Andretti visited Capitol Hill, where U.S. lawmakers announced potential antitrust action against Liberty Media. The lawmakers’ concerns revolved around General Motors’ involvement, as the company aimed to supply Andretti with Cadillac power units. The lawmakers claimed that denying Andretti’s entry also denied an American brand from competing on an international stage.
During a Miami Grand Prix event, Mario Andretti claimed that Greg Maffei approached him and said, ‘Mario, I want to tell you that I will do everything in my power to see that Michael never enters Formula 1.’ This allegation adds another layer of intrigue to the unfolding drama.
Greg Maffei later confirmed on an investor call that the DOJ had indeed opened an investigation into Liberty Media’s handling of the Andretti application. Maffei maintained that their decision complied with U.S. antitrust laws and stated that Liberty Media would cooperate fully with the DOJ while defending their previous decisions regarding Andretti. The DOJ’s investigation will gather documents before potentially moving to a grand jury.
The ongoing saga between Andretti Global and Liberty Media has now entered a critical phase with the DOJ’s antitrust investigation.
Source: Planetf1
