The US Department of Justice is launching an investigation into Liberty Media Corporation for refusing to accept Andretti Global’s bid to participate in the World Championship. At the same time, the American company’s application to establish the 11th Formula 1 team has already been provisionally approved at FIA level.
Liberty has even been accused of violating US antitrust laws, and the company’s management has already expressed its willingness to cooperate with authorities and provide the Department of Justice with any necessary information.
“The Department of Justice is investigating and we intend to cooperate with them on all matters,” Liberty Media CEO Greg Maffei said Thursday. “We believe our decisions were fully consistent with U.S. antitrust laws, and in our previous statements we have explained in detail the reasons for our decision regarding Andretti.”
Liberty’s arguments included doubts that the new team would be competitive enough and that the Andretti brand could contribute to increasing the commercial value of Formula 1. Michael Andretti, owner of Andretti Global, naturally disagrees.
Maffei also stressed that Formula 1 welcomes the creation of new teams, but that the necessary conditions must be in place: “We are obviously not against increasing the number of participants in the championship. But there is a certain methodology, and this involves obtaining permission from the FIA and Formula 1 – both parties must confirm that the applicant meets all the criteria.
We are open to applications from new teams and if they meet all the requirements, there is a chance that their application will be approved.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
