Liberty Media is currently under investigation by the US Department of Justice for rejecting Andretti Global’s Formula 1 bid. CEO Greg Maffei confirmed this during a quarterly earnings call, stating that the Antitrust Division is looking into the legality of F1’s decision to deny Andretti’s team entry.
Andretti has been working on a Formula 1 entry with the support of General Motors brand Cadillac. Despite the FIA accepting Andretti Global’s bid on a technical level, F1 itself has kept the American team out due to concerns about competitiveness and commercial value.
Teams in F1 have also been hesitant to accept Andretti because it would mean sharing the prize pool with an additional entrant.
Greg Maffei, CEO, Liberty Media Corporation
Photo by: Zak Mauger / Motorsport Images
Maffei stated that Liberty Media will cooperate with the Department of Justice and believes that F1 has not violated any US regulations.
“We are open to new entrants making applications and potentially being approved if they meet the criteria,” Maffei said regarding the possibility of accepting an expansion team in the future.
Earlier this year, the chairman of the United States House Judiciary Committee launched a probe into Liberty Media’s decision to deny Andretti’s F1 entry, following a visit to Capitol Hill by Mario Andretti.
