Liberty Media’s takeover of F1 "could be stopped in its tracks after competition authorities launched an inquiry," according to Kevin Eason of the LONDON TIMES. The Competition & Markets Authority wants to find out whether the £600M ($742M) takeover "breaches laws on sporting cartels." Liberty’s buyout, expected to be completed next year, "would give the American media conglomerate control of Formula One, as well as broadcasting contracts covering the sport around the world." Motor racing teams "have welcomed the takeover, particularly after they were promised a share in the business, and fans appear to want a change of regime." Liberty Media execs "privately had been braced for an investigation because the company would be taking over a sport that depends on sales to rival broadcasters and media groups." One source said, “It was almost bound to happen. The question now is whether there are enough grounds to kill off the deal. Everyone doubts it, but you never know.” So far, Liberty Media controls only 18.7% of F1 shares, in exchange for £602M ($745M) in cash (LONDON TIMES, 11/8). MOTORSPORT.com's Jonathan Noble wrote "interested parties that have concerns that Liberty's involvement in F1 will lessen competition" in the U.K. have been asked to submit their claims by Nov. 21.
The CMA said that the deadline then for a decision on whether or not Liberty Media "would face a more formal investigation" would be made on Jan. 5.
Liberty Media announced an $8B deal earlier this year "to buy all" of F1 holding company Delta Topco's shares in the sport (MOTORSPORT.com, 11/8). GMM reported meanwhile, two potential candidates "to get involved in F1's post-CVC future have played down claims they may accept roles."
Former F1 driver Gerhard Berger "welcomed Liberty's involvement" but told Austrian Servus TV, "No, I'm not in the group, I don't have the time."
And Red Bull mogul Dietrich Mateschitz told Spain's Marca, "That would be a big challenge, but I have a job that takes up all of my time as well as many other obligations and interests" (GMM, 11/8).
