“There’s no truth to any of that,” IndyCar quashes speculation of Liberty Media acquisition

There was conjecture about Liberty Media’s intention to buy the series, but it has been shut down effectively

“There’s no truth to any of that,” IndyCar quashes speculation of Liberty Media acquisition

IndyCar via Tampa Bay Times

Formula One pundit Peter Windsor claimed on his YouTube channel that Liberty Media was seeking the purchase of IndyCar and sought to convert it into ‘an American feeder series to F1’. This comes in an effort to increase the interest of American fans, along with probing American drivers to take the leap into Formula One.

When questioned on the prospect of selling IndyCar by RACER, Penske Corporation president Bud Denker gave an unambiguous response. Denker said, “There’s no truth to any of that. There’s been no discussion, and frankly, we wouldn’t sell it.” The corporation acquired the series and the Indianapolis Motor Speedway in 2020, and it was emphasized that the two are a package deal and will stay together.

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The corporation is clearly disinterested in any form of sale of the series and sees no reason to make a change to its current system, which works. Sources at Liberty Media, along with Formula One have also stated that the alleged rumor of interest in buying the IndyCar series is ‘completely wrong’.

Related: Liberty Media plan to acquire IndyCar and turn it into an ‘American feeder series’ for F1

A potential F1-IndyCar deal has a lot of pros and cons

Current feeder series Formula 2, via CarWale
Current feeder series Formula 2, via CarWale

Formula One is looking to acquire the American motorsport series in an effort to increase its influence in the United States of America. They have already made an impact with their Netflix series, ‘Drive to Survive.’ The country is also set to host three Grand Prix in 2023, namely Austin, Miami, and the much-awaited Las Vegas GP, due to growing popularity.

Formula One is trying to attract more American drivers to the sport, along with fans. The presence of Logan Sargeant on the grid is an example. However, his influence doesn’t engage fans as much due to his team being a backmarker. There was also alleged conjecture of changing IndyCar’s iconic oval tracks, along with modifying the cars so they bear some resemblance and can be associated with Formula One. They essentially desire a series that can accumulate a talent pool of Americans who can prospectively grow the engagement of fans with the sport massively. This can also give the series the status of a global sport, not just one confined to the USA.

On the downside, this could damage the prestige of IndyCar, typically tipped as a competitor to Formula One. This would void all comparisons between the two series. Being a ‘feeder’ series, this could cause the potential loss of thousands of fans due to its demotion to a simple subsidiary of F1, damaging its status. The core values of the series are also lost, as once it becomes a ‘feeder’ to F1, it will more or less follow the same rules. This could involve the removal of refueling at pitstops, which currently adds to variability, facilitating stronger competition.

This potentially also leads to IndyCar losing its trademark oval courses, which allows the sport to focus more on overtaking rather than the finer margins. They also stand to lose their independent sanctioning body and must answer to the FIA. This can also be a potential competition for drivers from the American feeder with drivers from Formula 2, the current feeder series. With limited spots on the F1 grid, this could be an issue.

Thus, the acquisition of IndyCar by Liberty Media comes with its fair share of pros and cons. With Penske Corporation uninterested in selling now, it seems unlikely that a sale is plausible. Liberty Media will have to find another way to appeal to American fanbases to diversify the audience of Formula One.

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