Article | July 8, 2024
Demystifying Andretti’s Failed F1 Application
We provide an overview of the F1 business and Andretti’s application. We also discuss how F1’s rise in popularity and financial performance improvements since Liberty Media’s acquisition of the sport mean that Andretti may no longer bring material benefit to F1 on or off the track; and why the current $200 million anti-dilution fee set by the FOM no longer sufficiently covers the dilution in existing teams’ prize fund or reflects the recent transaction prices of F1 teams and may need to be re-looked at.