Andretti Global Faces Rejection from Formula 1: Investigation by Justice Department
The Formula One Group, owned by Liberty Media, has found itself at the center of controversy after denying Andretti Global entry into Formula 1. This decision has sparked an investigation by the US Justice Department. Liberty Media CEO, Greg Maffei, has confirmed that the company will fully cooperate with the investigation, including providing any necessary information.
The rejection of Andretti Global’s bid for entry into Formula 1 occurred in January, following a rigorous six-month review process. Both Mario Andretti and his son Michael, as well as General Motors, expressed personal disappointment at the decision. General Motors had planned to partner with Andretti Global under its Cadillac brand, with the aim of expanding the current 10-team grid to accommodate a two-car American team.
Acknowledging the criticism surrounding the rejection, Maffei stated that Liberty Media is open to considering new entrants for Formula 1. However, meeting certain requirements will be essential for potential approvals. These requirements may include demonstrating competitiveness and proving the value that a team brings to the series.
The Justice Department has yet to comment on the investigation. However, this move comes after six US senators urged the department to examine the rejection. The senators expressed concerns about Formula 1 potentially acting on behalf of specific teams and other influential parties, such as foreign automakers. They suggested that this could potentially violate antitrust laws.
One of the key issues raised by Formula 1 regarding Andretti Global’s bid was the doubt surrounding the team’s competitiveness. Additionally, Formula 1 questioned the value that the Andretti name would bring to the series, contrary to Michael Andretti’s beliefs. The organization also highlighted the challenge of Andretti Global joining the grid within the next two years, something that the team has never faced before.
The rejection of Andretti Global’s bid has had a profound impact on the Andretti family. Mario Andretti himself expressed deep offense at the language used by Formula One Management in denying their application. In a social media post, the 1978 Formula 1 World Champion expressed his devastation at the decision.
The ongoing investigation by the Justice Department adds further intrigue to the unfolding saga surrounding Andretti Global and Formula 1. It remains to be seen what the outcome of this investigation will be and how it will impact the future of the global motorsports series.