Tue. Jun 18th, 2024

Senators seek antitrust probe of Formula 1 over Andretti Global

By 37ci3 May21,2024

WASHINGTON – A bipartisan group of influential senators is calling on the Biden administration to investigate Formula One. The decision to divest Andretti Global from race on the grid suggesting that sports may run afoul of American antitrust law in the coming years like it Increases US fan base main.

They sent this request on Tuesday and was reviewed by NBC News and the chairman of the Judiciary subcommittee on antitrust, D-Minn. They said in the letter, led by Senator Amy Klobuchar and joined by the panel’s ranking member, Senator Mike Lee. , R-Utah.

The letter is addressed to Jonathan Kanter, Assistant Attorney General of the Justice Department’s Antitrust Division, and Lina Khan, Chairwoman of the Federal Trade Commission, two agencies that share enforcement of antitrust laws.

It was co-signed by Democratic Senators Gary Peters and Debbie Stabenow of Michigan, home of General Motors, which partnered with Andretti Global to manufacture the engines. He was also represented by Andretti’s home state, R-Ind. Signed by Sen. Todd Young and Sen. Alex Padilla, D-Calif.

The six senators said they were “concerned” that F1 could act on behalf of other teams, including foreign car manufacturers, to reject Andretti’s bid to enter the sport in 2025 or 2026, despite F1’s governing body FIA approving the application. . Formula 1 management, the commercial side of the sport, was rejected his proposal In January, we doubt the team will be competitive or increase the value of the championship.

“It is possible that such a refusal to deal, particularly if organized through a class boycott, would violate US antitrust laws,” the senators wrote.

“Last year, F1 hosted three races in America Miami, Las Vegasand Austin, while no other country has hosted more than one competition. “Obviously there is a financial incentive to add an American team to F1’s roster and there is no reason to block them. [Formula 1 management] tries to isolate its current partners from the competition.

The letter highlights the US government’s growing interest in F1’s moves to penetrate deeper into the American market with its growing fan base. A group of House members held a press conference With Mario Andretti on May 1st Pressure F1 to include its team and Judiciary Committee Chairman Jim Jordan, R-Ohio, started an independent investigation next week. A Department of Justice or FTC investigation would represent a significant escalation.

An F1 spokesman did not immediately respond to a request for comment on the senators’ allegations. Formula 1 and its American owner Liberty Media have not publicly responded to congressional pressure.

Andretti Global thanked the legislators for their participation in confrontation within the framework of international sports.

“We are grateful to bipartisan members of Congress for their support in challenging this anticompetitive conduct,” an Andretti Global spokeswoman said this month. “We continue our commitment to bringing the first US works team and powerhouse to Formula 1 and giving American fans a home team.”

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By 37ci3

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