Formula One rejected a proposal to add an all-American team to the racing series — a move that could stymie growth in the U.S. What Happened: Formula One, which trades as Liberty Formula One Group (NASDAQ:FWONA)(NASDAQ:FWONK), nixed a proposal by former Formula 1 driver Michael Andretti. Andretti, who is part of one of the most famous racing families in history, teamed up with General Motors Company (NYSE:GM) unit Cadillac on a joint bid to join the league in 2025 or 2026. The Andretti proposal included the reliance on using Renault engines in the short term. Formula One left the door open for…
