This is the Statt Mann Baby. Time to Scatt a little bit.

I’m learning why Michael Andretti isn’t being allowed to buy his way into Formula 1. The core of the issue is on Wall Street.

Nu F1 Logo

Liberty Media, the owners of Formula 1, have put the series on NASDAQ. Look up Liberty F1.

At Friday’s close the series had a market cap of more than 28 billion dollars. Split that up with ten teams, that makes each team worth an average of nearly three billion dollars; some more, some less.

The series assesses a team’s worth to be tangible assets, not the market value of a name or sponsor.

For comparison, imagine if someone approached Jerry Jones to buy the Dallas Cowboys for a billion dollars. Forbes values the team at eight billion. You think Jones would sell for twelve percent of assessed value?

You think the other owners would LET Jones sell for twelve percent and devalue their own investments?

Would you let Michael Andretti buy the garage next to yours at a fraction of what you paid? Even with GM backing?

It’s not personal. It’s just business.