Liberty Media Under Investigation Over Andretti F1 Bid Denial

Liberty Media, the parent company of Formula One Group, is currently facing an investigation by the Justice Department regarding its decision to deny Andretti Global entry into the Formula 1 World Championship. CEO Greg Maffei announced the company's intention to fully cooperate with the investigation during a conference call on Thursday. The rejection of Andretti's application, which followed a six-month review, has sparked significant backlash from the Andretti family and their partner, General Motors. The denial, issued in January, was met with disappointment from Mario and Michael Andretti, who felt personally affronted by the reasoning provided. General Motors, which plans to collaborate with Andretti under its Cadillac brand, also expressed discontent with the decision. The proposed entry aimed to expand the current 10-team grid by adding a two-car American team, a move that would enhance the sport's presence in the U.S. market. Maffei indicated that Liberty Media remains open to new entrants in the future, provided they meet specific criteria. However, the company cited concerns about Andretti's competitiveness and the perceived lack of value the Andretti name would bring to the series. Mario Andretti, a former Formula 1 world champion, publicly expressed his devastation over the language used in the rejection, highlighting the emotional impact of the decision on the Andretti family. The Justice Department has yet to comment on the investigation, leaving the future of Andretti's bid and the implications for Formula 1 uncertain.