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☆ House Judiciary chief launches investigation into Formula 1 over Andretti exclusion
▼ + stars: | 2024-05-07 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

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's decision to deny Andretti Global a spot on the grid. The letter is dated Tuesday and addressed to Greg Maffei, the president and CEO of Liberty Media, and Stefano Domenicali, the president and CEO of Formula One Group. "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. The letter comes days after Mario Andretti, a former Formula 1 world champion, visited Capitol Hill and spoke at a press conference with lawmakers to pressure the sport to admit Andretti Global.

Persons: Mario Andretti, John James, Jim Jordan, Greg Maffei, Stefano Domenicali, Andretti, Jordan Organizations: Washington , DC, Andretti, Capitol, General Motors, Committee, Liberty Media, NBC News, Formula One, Formula, One, Andretti Global, Capitol Hill Locations: Washington ,, Ohio, United States, Michigan

☆ U.S. Congress members demand answers on Andretti's exclusion from Formula 1
▼ + stars: | 2024-05-01 | by ( Sahil Kapur | ) www.cnbc.com time to read: +5 min

Twelve members of the U.S. Congress sent a letter to Formula 1 owner Liberty Media on Wednesday demanding answers for why it is excluding Andretti Global from the sport, giving the American team powerful new allies in its bid to enter F1. "Our team, Andretti Global, is part of every major racing discipline in the world. Last fall Formula 1's governing body, the FIA, accepted the racing team's push to join the grid, saying it met the criteria. Because we have an obligation to protect the American consumer, to protect American companies, and that is our first allegiance. The move marks an earthquake for F1 as Newey is widely regarded as the greatest car designer in the sport.

Persons: Mario Andretti, Andretti Cadillac, John James, Gregory Maffei, —, that's, Andretti, James, It's, Jim Jordan, Adrian Newey, Sebastian Vettel, Max Verstappen, Newey Organizations: Auto, U.S, Capitol, U.S . Congress, Liberty Media, Andretti Global, American, General Motors, Formula, Andretti, GM, Cadillac, Rep, FIA, Formula One Management, Miami, Prix, Las Vegas, Red Bull Racing, Red Bull, NBC News Locations: U.S, Michigan, America, Ohio, Austin

Formula One's invitation to Andretti Cadillac for an in-person meeting about its application to join the motorsports series was sent via email and landed in a spam folder, which is why Michael Andretti and General Motors representatives never answered the request. The junk email revelation came Friday as Andretti Global sought to clarify two points in the sharply critical document F1 released earlier this week in rejecting the Andretti Cadillac application. An in-person meeting to discuss commercial matters would be and remains of paramount importance to Andretti Cadillac,” the team said. “Andretti Cadillac has been operating with 2026 as the year of entry for many months now," the team said. He then petitioned F1 to expand the grid for what Andretti claims will be a true American team in the series.

Persons: Andretti, Michael Andretti, Stefano Domenicali, “, “ Andretti, Andretti Cadillac, ”, Mario Andretti, Michael rank, Michael Andretti's, Gene Haas, Haas, Colton Herta, Logan Sargeant, Williams Organizations: Andretti Cadillac, General Motors, Andretti Global, Andretti, Formula One Management, FIA, American, Liberty Media Corp, GM, Cadillac, Sauber Locations: American, California

☆ GM plans F1 power unit supply to Andretti from 2028
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsNov 14 (Reuters) - General Motors has formally registered with Formula One's governing body to provide power units to a proposed Andretti Cadillac team from 2028, the U.S. carmaker announced on Tuesday. "We are thrilled that our new Andretti Cadillac F1 entry will be powered by a GM power unit," said GM President Mark Reuss in a statement issued ahead of this weekend's Las Vegas Grand Prix, one of three races in the United States. "With our deep engineering and racing expertise, we’re confident we'll develop a successful power unit for the series, and position Andretti Cadillac as a true works team. Formula One will have new engine regulations from 2026, with GM set to be the seventh manufacturer if Andretti secure approval. "Engineering a F1 power unit will advance GM’s expertise in areas including electrification, hybrid technology, sustainable fuels, high efficiency internal combustion engines, advanced controls and software systems," the carmaker said.

Persons: Rebecca Cook, Andretti, carmaker, Mark Reuss, Andretti Cadillac, Stefano Domenicali, Michael Andretti, Mario, Mercedes, Red Bull, Bruno Famin, We're, Alan Baldwin, Andrew Heavens Organizations: General Motors, REUTERS, Formula, Andretti Cadillac, FIA, Andretti, GM, Las Vegas, Formula One Management, U.S, Prix, Ferrari, Renault, Audi, Honda, Thomson Locations: Detroit , Michigan, U.S, United States, Austin, London

LAS VEGAS (AP) — General Motors said Tuesday it has registered with Formula One's governing body to become an engine supplier starting in 2028 in what is seen as a huge boost to Michael Andretti's bid to join the global motorsports series. “We are thrilled that our new Andretti Cadillac F1 entry will be powered by a GM power unit,” GM President Mark Reuss said. GM in January announced its partnership with Andretti Global under its Cadillac banner on Andretti's application to join F1. GM doesn't have its own F1 power unit and said its effort would be in conjunction with an existing manufacturer. If Andretti gets approved to join an expanded F1 grid, he would have to use another manufacturer's engine until 2028.

Persons: Motors, Michael Andretti's, Mark Reuss, Andretti Cadillac, Andretti, GM isn't, Ford, Red Bull, Honda, Colton Herta, Mario Andretti, Michael, Gene Haas, Haas, Kevin Magnussen, Nico Hulkenberg, Hulkenberg Organizations: LAS VEGAS, —, Formula, Andretti Cadillac, GM, Las Vegas, Prix, Andretti Global, GM doesn't, FIA, Audi, Sauber, Andretti, Associated Press, AP, Renault, IndyCar Locations: California, Denmark, Germany

☆ Andretti joins forces with General Motors for Cadillac Formula 1 entry bid
▼ + stars: | 2023-01-06 | by ( ) www.cnbc.com time to read: +2 min

Michael Andretti, team owner of Walkinshaw Andretti United, looks on during qualifying for Supercars Adelaide 500 on March 2, 2018 in Adelaide, Australia. Andretti have teamed up with General Motors in a bid to enter Formula 1 which, if successful, would also see the famous Cadillac name join the grid. Andretti's main headquarters would be in Indiana while General Motors would be their engine and manufacture partner, with GM brand Cadillac to form part of the entry. "It is particularly pleasing to have interest from two iconic brands such as General Motors Cadillac and Andretti Global. "Well, we're bringing one of the biggest manufacturers in the world with us now with General Motors and Cadillac.

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