FS1 Gets Record Overnight For NLCS Game 5 CBS/NFL Net See Sharp Drop For "TNF" CBS, NBC Seeing College Football Gains Media Notes Reds Get Equity Stake In FS Ohio In New Deal COTA Officials Expect Large Crowds For F1 Race NBA, NextVR To Produce Weekly Games In VR Google OTT May Have CBS' NFL Games Capitals Launch Facebook Messenger Bot Comscore Rankings See ESPN Post Largest Margin
SBD/October 24, 2011/Media
F1 Teams Hire Evolution Media Capital To Assess Value Of Media Rights
Published October 24, 2011
The Formula One Teams Association "has hired Evolution Media Capital, a boutique investment bank, to assess the value of its media rights before it negotiates a new funding agreement with CVC, the private equity firm that owns the sport," according to Garrahan & Blitz of the FINANCIAL TIMES. FOTA, F1 Management Chair Bernie Ecclestone and the FIA, the sport's governing body, next year are "due to negotiate a new 'Concorde agreement,' which divides up F1 revenues," and team owners are "anxious to secure a larger share." A source said, "This sport is probably the second or third largest in the world and the teams who take all the financial risk receive a minority share of the revenues. There is so much value that these guys are sitting on that they are not realising." Garrahan & Blitz note the hiring of EMC "comes as potential buyers have explored possible bids" for F1 (FINANCIAL TIMES, 10/24).