“I see great interest from funds and investors looking to buy current franchises – let’s call them that – because a team’s value is growing exponentially, and therefore financial interest in investing in F1 is also increasing. We see it first-hand because we receive many enquiries, and the same happens to the teams. But precisely because things are going well, we must be prudent and protect the value of what we’ve built.”
Domenicali also reflected on Andretti’s F1 bid, which was approved by the FIA in October 2023 but rejected by F1 in January 2024 because the championship did not believe Andretti would be competitive, despite its links to General Motors; in the end, Michael Andretti took a step back, and the renamed Cadillac entry was accepted.
“We’ve always said it was fundamental for us [Liberty Media] to have a quality project on the table to evaluate in the medium and long term,” Domenicali said.
“When we received the Andretti project, our view was negative – not because Andretti wasn’t good. Mario is a legend, an icon of this sport, and a friend. We simply didn’t see the substance behind the project that we consider necessary.
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“Things changed when General Motors came in. We saw significant investment with a 10-year plan and immediately spoke favourably because we believe in this case the project can bring added value to the system. We’re already seeing it now – they’re investing in the US market to promote their new initiative, so that guarantees a benefit.”
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