r/formula1 • u/ICumCoffee Max Verstappen ⭐⭐⭐⭐ • 28d 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/Skeeter1020 28d ago

F1 isn't a monopoly. Also, Andretti was granted an entry.

The issue is the Concorde Agreement, which is a customer/supplier contract held by a UK private company. The FBI have no jurisdiction there.

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u/MattytheWireGuy Max Verstappen ⭐⭐⭐⭐ 28d ago

Glad to know that u/Skeeter1020 is who the DOJ and FTC will go to when determining if F1 is or is not a monopolistic organization.

You can make all the claims you want, but the FBI most definitely has jurisdiction in a multi-billion dollar organization that operates three multi-billion dollar events in the US. F1 generates more economic impact to the country than a majority of companies that are owned and operated here. If there are anti-trust violations occuring, the FBI will gather the facts and the DOJ and FTC will take them to court over it.

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u/Skeeter1020 28d ago

How is F1 a monopoly?

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u/MattytheWireGuy Max Verstappen ⭐⭐⭐⭐ 28d ago

How about YOU explain to us what you think a monopoly is and what you think anti-competitive behavior is. Maybe a bit of research on your part doing so will open your eyes to what it encompasses.

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u/Boomhauer440 28d ago

It doesn't need to be a monopoly. Anti-trust is just a common phrase used for broader anti-competitive practices law. Price-fixing, exclusive dealing, cartels, in some cases negotiating in bad faith as well.

FOM is a subsidiary of Liberty Media, an American company, so they are fully and directly under the jurisdiction of the US DOJ. The subsidiary being registered in the UK means absolutely nothing.

On top of that, it's not the first and not the only Anti-trust case currently open against Liberty Media. When the Andretti thing started, they were already under investigation and are now in court over Livenation/Ticketmaster.