Liberty Media, owner of Formula One Group, is confirming that it is under investigation by the Justice Department for denying Andretti Global entry into the Formula 1 World Championship
Liberty Media, owner of Formula One Group, confirmed that it is under investigation by the Justice Department for denying Andretti Global entry into the Formula 1 World Championship.
“We intend to fully cooperate with that investigation, including any related request for information,” Liberty Media CEO Greg Maffei said during a conference call Thursday.
The F1 rejection in January came after a six-month review of Andretti’s application and the reasoning for the denial was taken personally by both Mario and Michael Andretti, as well as General Motors, which plans to partner with Andretti in F1 under its Cadillac brand. The bid would expand the current 10-team grid to accommodate a two-car American team.
Maffei said Thursday that the company is open to new entrants applying and potentially being approved if certain requirements are met.
The Justice Department did not immediately respond to a request for comment.
Among F1’s claims related to the rejection were that it did not believe Andretti would be a competitive team; that the Andretti name does not bring the value to the series that Michael Andretti believes it would; and that getting on the grid in the next two years would be a challenge Andretti has never faced before.
Mario Andretti said in April that he was deeply offended by the language Formula One Management used in denying the bid to join the global motorsports series. The 1978 Formula 1 world champion posted on social media he was “devastated.”
In May, six U.S. senators called on the Justice Department to look into the rejection, saying that there were concerns that Formula 1 was acting on behalf individual teams and other “key stakeholders,” including foreign automakers, and that could be a violation of antitrust laws.
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