Members of the United States Congress sent a letter to Liberty Media, the governing body of Formula 1, seeking answers regarding the unsuccessful entry of Andretti and General Motors into the sport. Despite Andretti’s offer being accepted by the FIA last October, Formula One Management (FOM) did not give the green light to the American team. FOM expressed doubts about Andretti’s ability to be competitive by 2025, but stated that they would reconsider the possibility in 2028. Undeterred, Andretti continued their efforts to enter the competition, including establishing a new headquarters in Silverstone and creating job opportunities. The US Congress, representing the American people, raised concerns about potential antitrust law violations in an open letter to Liberty’s president, Greg Maffei. The letter emphasizes the importance of allowing Andretti Global and General Motors to produce and compete in Formula 1, highlighting their contributions to American engineering and design, including producing the only engine built and designed in the US in the sport.
Congress also raised concerns about FOM’s refusal, which “appears to be driven by the current group of European Formula 1 racing teams, many of which have connections to foreign car manufacturers that directly compete with American automakers like GM.”
“It is unfair and incorrect to try to prevent American companies from entering Formula 1, which could potentially violate American antitrust laws.”
“The participation of all Formula 1 teams, including American teams, should be based on merit and not just on protecting current racing teams. This is particularly important considering the growing presence of Formula 1 in the United States, with three Grand Prix events in Miami, Florida; Austin, Texas; and Las Vegas, Nevada.”
The US Congress has set a deadline until May 3, 2024 for a response to the following questions:
1. “On what authority does the FOM reject the admission of Andretti Global? What is the rationale behind FOM’s rejection, especially in relation to Andretti Global and its partner GM, who could potentially be the first American-owned and built racing team?”
2. “The Sherman Antitrust Act of 1890 prohibits unreasonable market competition restrictions to benefit American consumers. How does FOM’s denial of Andretti Global and GM, both American companies, align with the requirements of the Sherman Act, considering that the decision will benefit existing European racing teams and their foreign car manufacturing partners?”
3. “We are aware that GM plans to reintroduce its Cadillac brand in the European market, which would create numerous well-paying jobs in the American automotive industry, especially given the global audience of Formula 1 and its positive impact on teams and sponsors. To what extent did GM and Andretti’s entry into the racing competition, gaining market share, and GM’s entry into the European market, also gaining market share, influence the decision to deny admission to the Andretti Global team, considering the opposition of existing Formula 1 teams against a new American competitor?”
The letter concluded by stating that they will continue to monitor this issue and work with the appropriate federal regulators to ensure a prompt investigation and pursuit of any potential violations of US anticompetitive laws.
© 2024
The world of sports is full of emotions and surprises, and 2024 promises to be an incredible year for fans. With several exciting competitions and major sporting events, sports lovers will have a lot to look forward to in the coming months.
One of the most anticipated competitions is the FIFA World Cup, which will be held in Brazil. The best teams in the world will gather to compete for the coveted title. Soccer fans cannot miss this opportunity to see their favorite teams in action.
In addition to soccer, other sports will also take center stage in 2024. Basketball will have the thrilling NBA finals, where the most talented teams will compete for the trophy. Fans of the orange ball sport will surely be eager to see who will be crowned the champion.
Another must-see sporting event is the Summer Olympics, which will be hosted in Paris. Athletes from around the world will come together to compete in various disciplines and showcase their skills. It will be a true sporting spectacle that cannot be ignored.
In addition to the major events, there will also be many exciting stories to follow. The most talented athletes in the world will continue to surprise us with their achievements and breakthroughs. It will be a year full of broken records and unforgettable moments.
So, get ready for a year full of emotions and surprises in the world of sports. Don’t miss a moment, as 2024 promises to be a truly amazing year for sports fans. Stay tuned and enjoy everything that the sports world has to offer!
