Trouble for Liberty Media? Call for an investigation into Liberty Media
F1 News
A Belgian MEP [Member of the European Parliament] has called on the European Commission to launch an investigation into Formula 1 commercial rights holders Liberty Media. The MEP wants to see whether the American company is complying with rules 'to protect consumers and ensure fair competition'. Similar proceedings are already underway in the United States. There, an investigation is already underway into whether Liberty Media did not break any rules by refusing Andretti Global to the F1 grid.
In September 2016, Liberty Media became the commercial rights holders to Formula 1. The US company is also currently in the process of acquiring MotoGP. Liberty Global, a sister organisation, owns Formula E.
Monopoly at Liberty Media?
The MEP, Pascal Arimont, believes Liberty Media is forming a monopoly. He spoke to the Belgian Newspaper Het Belang van Limburg and used the example of Andretti, who want to join Formula 1. Their bid was rejected for the time being. "Commercial agreements make it very difficult for new teams to enter F1, restricting competition in an illegal way," he said.
Proceedings are already underway with the US competition authorities regarding Andretti's 'rejection'. The FIA approved Andretti, but Formula One Management rejected the proposal. Due to Arimont's plea, there could also be an investigation in Europe. Arimont wants the European Commission to investigate Liberty Media's compliance with competition rules "to protect consumers and ensure fair competition."
This article has been created in collaboration with Cas van de Kleut
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13 October 2024
