FREE NEWSLETTER

Liberty Media completes F1 deal

24 January 2017

The Liberty Media Corporation has announced that is has completed its acquisition of Delta Topco, the parent company of Formula 1.

The $8.4 billion takeover is said to be the start of a new era for Formula 1 as the takeover has seen former chief executive Bernie Ecclestone ousted following his 40 year tenure with Chase Carey succeeding him as chief executive officer of Formula 1.

“I am excited to be taking on the additional role of CEO,” said the newly appointed CEO, Carey. “F1 has huge potential with multiple untapped opportunities. I have enjoyed hearing from the fans, teams, FIA, promoters and sponsors on their ideas and hopes for the sport.”

The takeover comes as global viewing figures of the sport have been in decline in recent years, as Formula 1 failed to capitalise on the boom of social media – something it has been playing catch-up with since.

For many Liberty Media has been welcomed to the sport as the group is something of a media expert and Carey himself is the former vice president of Rupert Murdoch’s 21st Century Fox empire.

“We will work with all of these partners to enhance the racing experience and add new dimensions to the sport and we look forward to sharing these plans overtime,” Carey added.

Partners

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
17 May
McLaren to attract more fans to Formula E - https://t.co/P0vKv5dOeQ https://t.co/g4ZzNAUwG0
RACE TECH magazine @RaceTechmag
11 May
🏎 FORMULA E GEN3 @ScarbsTech reports from the launch of @FIAFormulaE controversial #Gen3 racecar 🏎 A TEMPLATE FOR G… https://t.co/HyKlhOywcV
RACE TECH magazine @RaceTechmag
27 Apr
Ferrari tests its 296 GT3 ahead of 2023 debut #Ferrari296GT3 @FerrariRaces #Ferrari #FerrariCompetizioniGT… https://t.co/1bngfhbo4o
RACE TECH magazine @RaceTechmag
27 Apr
F1 2022 THAT’S BETTER! Is this order the ‘new normal’, or is porpoising masking the cars’ true pace? @ScarbsTech ex… https://t.co/3LUDSmgCKj
RACE TECH magazine @RaceTechmag
27 Apr
Ferrari tests its 296 GT3 ahead of 2023 debut - https://t.co/zdKcDmXAy9 https://t.co/IfZSF4BklH
RACE TECH magazine @RaceTechmag
20 Apr
Read our digital April issue for free (limited time only) Want to launch your #electric racing career? Is this the… https://t.co/Icl8D9M5Hw
RACE TECH magazine @RaceTechmag
13 Apr
Easter Offer! Get a 30% discount off a RACE TECH subscription - limited time only #Easter2022 #Easterhttps://t.co/ArUg3vO3Kz
RACE TECH magazine @RaceTechmag
12 Apr
Latest issue of RACE TECH out now. Don't miss #NASCAR #LeMans24jp the unmissable World Motorsport Symposium +… https://t.co/5x8awWB8rQ