United States Congress Questions Liberty Media Over Andretti Global’s Formula 1 Rejection

The United States Congress has taken a keen interest in the recent rejection of Andretti Global’s entry into Formula 1, prompting a bipartisan letter to Liberty Media seeking answers. The rejection by Formula One Management cited concerns about the impact on the league’s prestige and the lack of demonstrated commercial benefits.

Andretti Global, backed by General Motors, had hoped to enter Formula 1 as a customer team sooner than 2028, when GM plans to have an engine ready for competition. The rejection has raised questions about the existing teams’ reluctance to share revenue with a new entrant, despite the potential benefits of having a prestigious new OEM like GM in the sport.

The letter from Congress expresses concerns about potential anti-competitive actions that could prevent American companies like Andretti Global and GM from competing in Formula 1. It questions how the rejection of Andretti Global aligns with antitrust laws and the influence of existing teams and their OEMs in the decision-making process.

While Liberty Media owns Formula One Management, the operation is based in the UK, and all teams must approve the addition of new teams, in addition to the FIA. The potential conflict with competition laws has been acknowledged by Liberty Media in its 2021 annual report.

Despite the congressional inquiry, the ultimate jurisdiction over these matters lies with the European Commission. Andretti Global remains determined to race in 2028 with GM, showcasing a new race shop near Silverstone Park. The ongoing saga highlights the complex intersection of sports, business, and competition law in the world of Formula 1.