🏎 Congress Sends A Letter To Liberty Media
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Congress Sends A Letter To Liberty Media
Scoop: @RepJames in a letter to Formula One parent company Liberty Media suggests it ran afoul of the Sherman Antitrust Act when it rejected @AndrettiGlobal & GM’s F1 bid earlier this year.
“It is unfair and wrong to attempt to block American companies from joining Formula One.”
— Benjamin S. Weiss (@BenjaminSWeiss)
May 1, 2024
A bipartisan crew of congressional members flagged concerns over Formula 1’s rejection of Andretti’s team entry, labeling it potentially anti-competitive 🚫. The crew, led by Rep. John James, zoned in on the exclusion of Andretti Global and General Motors from the 2025 F1 lineup, spotlighting issues with F1’s commercial decisions under Liberty Media’s watch.
“The rejection of Andretti Global by Formula One seems to single out American enterprises unfairly,” said Andretti Global, stirring the pot 🇺🇸. They aim to bring the first U.S. works team to the F1 circuit, amidst growing support from Congress.
Despite the technical thumbs-up from FIA, F1 withheld approval, hinting only at potential inclusion by 2028. Critics argue this move shields European teams and could even breach U.S. antitrust laws. 🏁
The clock ticks down to a May 3rd deadline for Liberty Media’s response to Congress’s probing questions. Stay tuned as it seems this is far from over! 🏁👀
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