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Leagues and Governing Bodies

Liberty Media Reportedly Closing In On Deal To Take Significant $8-9B Stake In Formula 1

Liberty Media is "closing in on a deal to take a significant stake" in F1 in a deal that would "value the racing car series" at between $8-9B (all figures U.S.), according to Bond, Fontanella-Khan, Garrahan & Ahmed of the FINANCIAL TIMES. Sources said that the company is in "advanced talks with CVC Partners, the private equity group which controls F1’s parent company." The sources added it "could be announced within the next two weeks." Sources said that Liberty "plans to take" a 10-15% stake in F1’s parent company initially for $1.33-2.66B (FINANCIAL TIMES, 9/4). Meanwhile, SKY NEWS' Mark Kleinman reported Fox Exec Vice Chair Chase Carey "will be named as the new boss" of F1. Sources said that the appointment of Carey will "signal Liberty Media Corp's intention 'to exploit F1's lucrative media rights more aggressively" (SKY NEWS, 9/4). F1 team Mercedes Motorsports Dir Toto Wolff "thinks Liberty could help F1 adopt a more modern outlook if the takeover goes ahead." He said, "There are things we can learn from the American way, particularly in the digital areas, and there are things working here that are not working there. So I think they are going to have a close look and analyse what they think needs to be changed, improved or what needs to remain. There is a reason why these guys can afford to buy this" (ESPN.com, 9/5). ESPN.com's Kate Walker noted in the immediate future, there is "no reason to expect much change in direction for F1." But expect to see "better marketing of F1" in the U.S. and "perhaps the most obvious area for expansion is that of general marketing and promotion" (ESPN.com, 9/4).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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