TC Daily Pit Stop: 23XI Racing/Front Row Subpoena F1 for Financial Data
TC Daily Pit Stop: Wednesday, April 9th, 2025
23XI/Front Row Subpoena Liberty Media for F1 Financial Data
As part of the discovery process of its upcoming antitrust trial against NASCAR, 23XI Racing and Front Row Motorsports have begun issuing subpoenas to fellow sporting leagues in an effort to build their case in regard to their allegations that NASCAR runs as a monopoly.
On Monday, the race teams filed a subpoena to the Colorado United States District Court requesting financial records from Liberty Media, who owns F1, to help the teams calculate damages using a “yardstick” method of comparing revenue and structure in a competitive racing environment.
Liberty declined an initial request from the teams, so, the teams pared their request down to five points which were included in Monday’s Subpoena. What the teams are requesting data-wise includes revenue shared between F1 and its teams, the formula for splitting those revenues, actual amounts retained/shared, valuations or sale prices of F1 teams, and the Concorde Agreement.
The Concorde Agreement is the document that governs the relationship between F1 and its teams.
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