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LinkedInSale of Delta Topco gets FIA approval
The World Motorsport Council has unanimously approved the sale of Delta Topco, owner of the Formula One Group, to the Liberty Media Group.
The sale will see CVC Capital partners sell 100% of its shares in Delta Topco, to the American mass media specialist.
According to the FIA, it is the aim of Liberty Media, Formula One Group and the FIA to work towards a “constructive relationship” to help benefit the future success of Formula 1. “The FIA looks forward to working with the new owners of the Formula One Group on further developing the unrivalled global spectacle that is the FIA Formula 1 World Championship for all stakeholders.”
As a specialist in media, the Liberty Media Group is tipped to help bring Formula 1 to a wider audience by applying its media expertise.
The Group initially acquired an 18.7%share in September 2016 and expects a completion of sale by the end of January 2017.
This means 100% of the shares in Delta Topco will be transferred to the Liberty Media Group.
Prior to the World Motorsport Council’s approval, representatives from Liberty Media presented members with a detailed strategy of what it intends to do upon sale completion took questions from those present.
The statement from the FIA added: “The FIA looks forward to working with the new owners of the Formula One Group on further developing the unrivalled global spectacle that is the FIA Formula One World Championship for all stakeholders.”
