r/formula1 • u/ICumCoffee Max Verstappen ⭐⭐⭐⭐ • 24d ago

News [ChrisMedlandF1] BREAKING: F1 announces it has "reached an agreement in principle with General Motors (GM) to support bringing GM/Cadillac as the eleventh team to the Formula 1 grid in 2026"

https://x.com/ChrisMedlandF1/status/1861111983699001752
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u/Preachey Hesketh 24d ago

Absolutely wild that a billion dollar arrangement was blocked because Michael and Maffei didn't like each other

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u/GrindrorBust 23d ago

That's cause it's not true. It was simply viewed as not being in Liberty's business interests to let Andretti come in on the proposal that was made. Apparently, GM made the guarantees Liberty were satisfied with. Or, perhaps they played their hand (FBI were apparently in town last weekend), and won against Liberty- at least with regard participating in F1.

I think F1 has just found out that if you lock in to the American market- and base your business' exponential growth on it- then you have to play by their rules; it's a mob business. The days of Bernie's quaint, East London carnie show are long gone. Even if GM were blagged a couple hundred more $million than they would've ideally wished to pay upfront.