F1 dispute with Andretti Global draws in U.S. lawmakers
Publishing timestamp: 2024-05-24 03:16:14
Summary
Tensions are rising between F1 and Andretti Global over the bid to join the grid. U.S. lawmakers have accused F1 of cartel-like behavior, leading to a government inquiry. Existing teams are concerned about dilution of TV revenue and prize money if Andretti joins. Various solutions are being proposed, including higher anti-dilution fees or allowing new teams to enter as non-constructors. Pressure from the U.S. government may force F1 to make changes.
Sentiment: MIXED
Tickers: AAPL, CSCO, DELL, KO,
Keywords: apple inc, sports, cisco systems inc, coca-cola co, business news, dell technologies inc,
Source: https://www.cnbc.com/2024/05/24/f1-dispute-with-andretti-global-draws-in-us-lawmakers.html