Liberty Media hit by antitrust investigation into Andretti F1 ban

Formula 1 owner Liberty Media is facing a potential legal dispute with the US Department of Justice after confirming it has opened an antitrust investigation into its decision to reject Andretti Global’s bid to join the Grand Prix racing franchise.

The opening of the antitrust investigation was confirmed Thursday by Liberty Media CEO Greg Maffei during a quarterly conference call with Wall Street analysts on the company’s financial results.

Andretti Global, backed by General Motors’ Cadillac brand, is actively pursuing a move into Formula One, establishing a base at Silverstone and hiring key staff including former Formula One technical director Pat Symonds.

Although the FIA, motorsport’s governing body, technically approved Andretti’s bid, Formula One itself strongly opposed the American team’s participation, citing concerns over its potential competitiveness and commercial value.

Current Formula 1 teams are also resisting widening the grid because it would dilute the sport’s prize money.

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“Looking at Andretti, as you saw this morning, we announced that the Department of Justice was opening an investigation,” Maffei said in the interview.

“We intend to cooperate fully with the investigation, including all requests for information.

“We believe that our decision, F1’s decision, was in compliance with all applicable U.S. antitrust laws. We have fully explained our decision with respect to Andretti in previous statements.”

Despite the investigation, Maffei remained open to potential future expansion.

“We are certainly not against the idea that all expansion is bad,” he said. “There is a methodology for expansion that requires approval from the FIA ​​and F1, and both groups have to find criteria that are met.

“We are definitely open to new participants applying and potentially being accepted if these requirements are met.”

The Justice Department’s involvement follows increased political pressure on Liberty Media.

In May, the chairman of the U.S. House of Representatives Judiciary Committee launched an investigation into Andretti’s ouster following a visit to Capitol Hill by team patriarch Mario Andretti.

Republican congressman Jim Jordan later demanded an explanation from F1 owners about the decision-making process that blocked Andretti’s aspirations.

With the antitrust investigation ongoing, the future of Andretti’s Formula 1 ambitions, and the wider landscape of the sport, is uncertain.

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