Yes, and they have a Concorde agreement that stipulates no more than 12 teams. The Concorde agreement is, in effect, a trust. Not allowing a team that can measure up to the stipulations in the Concorde agreement is inherently anti-trust.
A trust that is not subject to legislation is it? How would you sanction the FIA lol???? The system has FIA approval and FOM approval. The FOM approval did not happen. Shall we use US legislation for all of F1 or for the World Cup and all other sporting events? There is a limit and Im not sure any US law applies to an organization not based in the US. Where is F1's headquarters?? Its not in the US. Its London. Headquarters 2 St. James's Market, London, U.K.
Your interpretation. How Andretti Global, not in F1 business yet, and without credential, could obtain a free entry in a the WDC/WCC, when it can be proven that its presence would be financially detrimental to the 10 teams already operating, some for several decades (Ferrari for 74 years!) ? At least, the 10 teams should be receiving financial compensation before Andrett Global is allowed to join.
Andretti has indeed offered the compensation the teams freely chose when they signed the Concorde agreement. You know, the one that allows a whole lot more teams on the grid? In summary: Andretti meets all the requirements of the FIA. Andretti meets all the contractual requirements of the FOM. But the teams of the FOM have rejected the FIA-approved Andretti-Cadillac entry, against the terms of the Agreement. This is classic anti-competitive action. Since the harmed party is an American company, and Liberty is an American company, and at least 3 events occur in America, there's no question that these actions fall under the purview of the America legal system -- including Congress.
I believe that Andretti can make the case he has met all the documented conditions. Pulling the Political card is not what Liberty wants to have in public view. Even the US Supreme Court has weighed in on NFL Sunday Ticket packages. It is not a place for Liberty to have their ownership, broadcast and distribution rights subject to an anti-trust review. As to how many teams...... you still have to qualify for each race. In that way......their ultimate selection system has more to do with qualifying than it does how many teams are in the field. Additionally, Points for the drivers and Manufacturers are accumulated based on the top 10 finish order. That could pose a tricky legal situation for Liberty to explain how the number of teams impacts the end results based on qualifying and winning. Almost any rationale Liberty argument against seems to run right to the edge of anti-trust. That said....I'm not a huge Andretti fan and him leaning on US politicians to tilt the scale in his favor......is not good.
What about the $200, 000,000 buy-in money that's short by $1,500,000,000 or more at current values? Is that no longer an issue?
You're a good business person; would you take $200,000,000 now, or wait for the reset increase (due to Drive to Survive) of $1,500,000,000?
The point is that Andretti-Cadillac met all the published requirements. FOM is failing to live up to those published expectations. And let's all be honest, it's almost completely due to European xenophobia.
It's not a fixed price, it never was. Do you still buy anything today at 2010 price ? Who does ? Try to be realistic. The fee was a deposit to show that a new entrant had enough finance to survive at least one year. Since, it has been proven that's not enough, and several teams have failed (HRT, Marussia, Caterham, etc ...). Now the entry fee must be around £1Billion, based on the average value of teams. That $1Billion compensating 10 teams isn't much, compared to what they will lose long term in the redistribution. Also, 11 teams instead of 10 creates many organizational and logistic problems. Some tracks cannot accommodate an eleventh team now, in term of pit number and paddock space. That could put their participation in jeopardy and take them out of the calendar. Liberty has calculated that one extra freight aircraft will be needed for the far-away destinations, at extra cost. 10 teams is the limit the current transport system can handle. The Andretti lobby doesn't take note of these facts; all they wany is to muscle their way in regardless. The "We are the Andrettis, we are entitled to be in F1" doesn't wash with reality. Now playing "European xenophobia" adds another layer of ridiculous to this.
I can't wait to see Domenicali squirming before congress. He has no idea what he is up against if it goes that far.
I believe Andretti has made the case their involvement makes the pie larger. Teams losing a share is not a good long-term argument, but it's their only argument so they're sticking with it. If they REALLY want to lose money, let congress slap some anti-trust and anti-competitions taxes on the teams and parent companies for any event occurring in the US. That will hurt a heck of a lot more, and as I've said before, they absolutely must have these US cash-cow races. They make a ton of money here, whereas the barely break even at most of the European legacy circuits.
I would pay per view that. I'm not some huge Andretti nor GM fan, quite the opposite actually, but F1 railing these organizations as they are shows their inherent bias. Would be great if MIT had a student run F1 team. F1 wouldn't know what hit it
I am a European and not a fan of Michael either but this blockage of Andretti's F1 participation is like a dusty pompous old English gentleman's club: blow their doors off and let them join already. Any of the Americans working for Liberty would be very awake as to the danger of being fried on live tv by a congressional hearing but Domenicali would arrive naive like a Lord talking down to peasants...and would soon be sweating and loosening his tie, wishing he was home with mamma. If this is what it takes for Andretti to join amen. It is for the good of the sport and I want to see Mario, a truly great man I once interviewed, smile like a kid in the pits.
I beg to differ; when DC had to bail out the Detroit auto makers the CEO's got scolded for showing up in several private jets while their companies bled money. The next time they were driven from Detroit and showed a lot more humility.
More BIG news from Congress today, House Judiciary investigation in play. And may I add, not a drop of money in lawyer's fees from Andretti, very shrewd move. https://www.nbcnews.com/politics/congress/house-republican-jim-jordan-f1-investigation-andretti-us-rcna151103 For what it's worth, Mario said he didn't ask Congress to write the first letter last week, but that doesn't mean GM didn't.
Audi, DB, etc., also have corporate boards and shareholders to answer to, as well as a variety of intrusive government nannies. This should make them more averse to risk than an independent organization like Andretti and others.
I absolutely don’t get why they are now blocking Andretti ? Formula One need fresh blood and Andretti’s family has a pretty good pedigree !
It would be great if they had a team. I'd be surprised if they'd be remotely competitive though - particularly with the current technical regulations.
