Formula 1 parent company Liberty Media faces massive scrutiny in US over Andretti Global feud

The parent company of Formula 1 Group Liberty Media is facing scrutiny from the U.S. Department of Justice (DOJ) due to its recent decision regarding Andretti Global's bid to join F1. This investigation comes on the heels of a request by a group of U.S. senators. They have urged the Biden Administration to examine whether F1’s rejection of the Andretti bid might constitute a violation of antitrust laws.

During a conference call on Thursday, Liberty Media's CEO Greg Maffei addressed the situation, affirming the company's commitment to cooperating fully with the investigation. "We intend to fully cooperate with that investigation, including any related request for information. We believe our determination or F1’s determination complied with all applicable U.S. antitrust laws,” Maffei stated.

The controversy began in January 2024, when F1 declined the application of Andretti Global, a racing consortium spearheaded by former drivers Mario and Michael Andretti. The rejection meant that F1 would continue with its lineup of ten teams. 

Despite the FIA’s approval of Andretti’s application in 2023, Liberty Media, which owns Formula One, was responsible for the final decision. F1's dismissal of the bid was justified because the prospective team "would not be a competitive participant."

Formula 1 remains open to expansion!

The decision has sparked significant backlash, particularly from the Andretti camp and U.S. lawmakers. Mario Andretti expressed his profound disappointment publicly, describing himself as "devastated" by the rejection.

In response to this, Senators, led by Minnesota Democrat Amy Klobuchar, voiced concerns over potential antitrust violations. He suggested that F1's actions might unfairly favour European teams and foreign automakers over U.S.-based competitors with domestic partnerships like GM.

Despite the ongoing investigation and recent criticisms, Maffei assured that Formula 1 remains open to expansion. “We are certainly not against the idea that any expansion is wrong,” he noted. He emphasized that any potential new entries will need to meet specific criteria established by the FIA and F1.