In the aftermath of the rejection of Andretti’s F1 bid, 12 senators of the US Congress wrote a letter to Formula 1 owners Liberty Media to get more clarity on the rejection. They claimed that Formula One Management (FOM)’s rejection of Andretti was a breach of US antitrust laws — with FOM acting on behalf of existing teams and manufacturers blocking Andretti’s entry to the sport.
There were reports that an antitrust investigation could start against Liberty Media at the time of the Miami GP. Now, Associated Press reporter Jenna Fryer has confirmed on Twitter (now X) about such an investigation from the US Department of Justice (DoJ).
Fryer stated, “Liberty Media, in an earnings call today, acknowledged the Department of Justice is investigating the company over anti-trust violations for refusing Andretti Global’s entry into #F1. Liberty says it is not against expansion and will cooperate fully with the DOJ.”
Liberty Media in an earnings call today acknowledged the Department of Justice is investigating the company over anti-trust violations for refusing Andretti Global’s entry into #F1. Liberty says it is not against expansion and will cooperate fully with the DOJ.
— Jenna Fryer (@JennaFryer) August 8, 2024
Now, back at the Miami GP, Mario Andretti claimed that Liberty Media CEO Greg Maffei approached him to state how he would do everything in his “power to see that Michael [Andretti] never enters Formula 1″. If true, this was quite a clear statement that F1’s commercial rights holder was against Andretti‘s entry.
It also aligned with the explicit rejection Andretti received in January 2024. However, a few months later, Maffei may have to yield with US DoJ getting into the matter with an official investigation.
Liberty Media CEO gives a diplomatic response to US DoJ investigation
Maffei told Speedcafe that they announced the investigation during an investors’ call. As Fryer mentioned, Liberty Media is willing to fully cooperate and help out with any documents or information needed during the investigation.
Maffei clearly stated, “We’re certainly open to new entrants making applications and potentially being approved if those requirements are met”. He also denied the notion of FOM being against expansion, provided the prospective teams get the FIA and F1’s approval.
He asserted that they are in compliance with the US antitrust laws that are applicable to Liberty Media and FOM. However, Maffei also stated that they have given a detailed rationale for rejecting Andretti‘s entry — who had received the FIA’s approval.
