FREE NEWSLETTER

Liberty Media buy F1 as teams ‘can invest’

8 September 2016

American mass media company, Liberty Media, has completed the agreement of sale for Formula 1 from a consortium of sellers led by CVC Capital Partners.

Liberty Media will acquire 100% of the Formula 1’s parent company’s shares, Delta Topco,  with the sale subject to ‘satisfaction of conditions’ while the initial sale will be for an 18.7% minority stake, valued at $746 million.

“We think our long-term perspective and expertise with media and sports assets will allow us to be good stewards of Formula 1 and benefit fans, teams and our shareholders,” said president and chief executive officer of Liberty Media, Greg Maffei.

Liberty Media have announced that Formula 1 teams will be given the opportunity to ‘participate in the investment’ with some teams already interested in taking part.

Chase Carey has been named as the new chairman of Formula 1, “I see great opportunity to help Formula One continue to develop and prosper for the benefit of the sport, fans, teams and investors alike,” he said.

Bernie Ecclestone will remain on as chief executive officer of Formula 1 however he claims he will be staying on three years following the take over.

Partners

CRP Group
FERODO Racing Black background jpeg
DTAfast logo
Base Performance bps_logo_full_on_light_cmyk
ATL-UK-LOGO-FL-CL-01(1)

Latest issue

FREE Newsletter

Stay up to date and a chance to win 1 Years Subscription*

  • This field is for validation purposes and should be left unchanged.

Latest Tweets

Stay up to date with our social world

RACE TECH magazine @RaceTechmag
20 Feb
The Alfa Romeo Sauber F1 team reveals its C37 https://t.co/Pq3I7d2fL9
RACE TECH magazine @RaceTechmag
16 Feb
Biometric gloves coming to Formula 1 https://t.co/vMOftRd3N5
RACE TECH magazine @RaceTechmag
16 Feb
McLaren fires up MCL33 for the first time https://t.co/TbsjydAVB6
RACE TECH magazine @RaceTechmag
16 Feb
Williams reveals the FW41 https://t.co/Dg7oRqClW0
RACE TECH magazine @RaceTechmag
14 Feb
Haas reveals first 2018 F1 car images https://t.co/hJDCRm4WFt
RACE TECH magazine @RaceTechmag
14 Feb
Gibson Technology signs LMP1 engine contract with Rebellion Racing and ORECA https://t.co/wtuvAVjuwN
RACE TECH magazine @RaceTechmag
14 Feb
Is your loved one crazy about #Motorsport ? Then why not give them the perfect #valentinesDay gift… https://t.co/Ok3V0xKfQv
RACE TECH magazine @RaceTechmag
13 Feb
Lydden Hill to host Global Rallycross finale https://t.co/BziSXeUR91