House Judiciary chief launches investigation into Formula 1 over Andretti exclusion [MSNBC.com]
Liberty Media Corporation - Series A Liberty SiriusXM (LSXMA)
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Source: MSNBC.com
WASHINGTON — The chairman of the powerful House Judiciary Committee is launching an investigation into Formula 1 and its U.S. owner, Liberty Media, to demand answers about the sport'sdecision to deny Andretti GlobalIn a letter obtained by NBC News, Rep. Jim Jordan, R-Ohio, accuses the sport’s chiefs of engaging in “anticompetitive conduct” by rejecting the American racing team’s bid to enter F1 in 2025 or 2026.“Delaying Andretti Cadillac’s entry into Formula One for even one year will harm American consumers to benefit failing Formula One teams,” Jordan writes. “Limiting the number of teams in Formula One will increase the price of sponsoring or buying into an existing Formula One team. As the Committee examines this matter and considers potential legislation around the structure and competition of sports leagues, we write to request a staff-level briefing on the decision to deny Andretti Cadillac’s application to join Formula One.”Jordan demands documents and communications regarding
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- 5/15/24 - Form 8-K
- 5/14/24 - Form 4
- 5/10/24 - Form 4
- LSXMA's page on the SEC website