Looks like Liberty Media just bought a big bag of smelly crap:
https://jalopnik.com/ferraris-now-threatening-to-quit-f1-and-start-a-rival-r-1821464224
I wish I could find my post where I predicted this would happen. The moment the teams realize that they can get whatever they want by threatening to walk away, they will do it. Maybe, not walk away, but the threat is now there. They have Liberty Media backed into a corner, and it only took them a little less than a year to administer the hose.
But, then again, the teams have walked away before, but it was so long ago, and only one obscure race, that it's a little lost in history. It was 1982 when they staged a race of their own, but then the FIA ceded to their demands and that's how we ended up with the Concorde agreement. This was also the moment Bernie seized complete control.
So, we could have a real mess on our hands. The FIA said a few years ago if there was a rival F1 series they would sanction it, so if the teams want to go their own way, all Liberty Media is going to own is a schedule full of races with no cars, and the copyright on a few logos. You can bet Liberty is looking around for some kind of sucker to take this bloviated mess off their hands.
This isn't going to be like the Indycar split. The difference here is that while the Indianapolis Motor Speedway held the trump card, Liberty has, well.........
squat. The F1 teams can form their own break away deal, the FIA will take the sanction money, and all Liberty will have is, again,
squat. Obviously the teams and FIA won't be able to call it Formula One, but it's the FIA that owns the titles of world championship of drivers and manufacturers. They can just rename it "Premier Formula" or something similar and never miss a beat. Meanwhile, the clock is running for Liberty Media to get a few pennies of their investment back by selling all they have left...... a few copyrights.
At this point, Liberty's best option would be to hire Bernie to run things and reel the teams back in.