Liberty Media has acknowledged that the US Department of Justice is conducting a probe into the organisation’s decision to turn down Andretti’s Formula 1 proposal.
While the FIA accepted Andretti’s bid to enter the sport last October, the prospective American squad failed to receive the green light from Formula One Management.
FOM outlined that it cast doubt over Andretti’s potential to be a “competitive participant” as soon as 2025 but would be prepared to reconsider its venture come 2028.
Andretti has continued with its endeavour to become the 11th team on the grid with the opening of a new headquarters at Silverstone and an aggressive hiring spree.
Earlier this term, Members of the United States Congress penned a letter to Liberty Media expressing concerns over a violation of antitrust laws in relation to Andretti.
Liberty Media CEO Greg Maffei has disclosed that the department’s Antitrust Division is investigating the legalities involved in F1’s choice to not accept Andretti’s bid.
“Looking at Andretti, as you saw this morning, we announced that there is a DoJ investigation,” Maffei told Wall Street business analysts.
“We intend to fully cooperate with that investigation, including any related requests for information.
“We believe our determination, F1’s determination, was in compliance with all applicable US antitrust laws, and we’ve detailed the rationale for our decision, vis-a-vis Andretti in prior statements.”
But while the teams and the FIA have advised Andretti to purchase an existing team, Maffei has claimed that Liberty Media and F1 aren’t ruling out expanding the grid.
“We are certainly not against the idea that any expansion is wrong,” he added.
“There is a methodology for expansion that requires approval of the FIA and the F1 and both groups have to find the criteria met.
“We’re certainly open to new entrants making applications and potentially being approved if those requirements are met.”
I guess the only thing that Greg Maffei and Liberty Media can do at this point is cooperate. They’re trying to reach a deal in the Ticketmaster Live Nation case, and I would think at this point they know they’re screwed in both matters. They are making f1 look bad primarily because they want to make too much money and don’t really care about the product(racing). The American corporate business model: Run it into the ground and then sale it.
“We are certainly not against the idea that any expansion is wrong,” he added.
Maffei is too thick to realize that this is an admission that they are opposed to any additional teams. He effectively says they are for the idea that any expansion is wrong.