Menu
Leagues and Governing Bodies

World Motor Sports Council Approves Formula 1 Sale To Liberty Media

The World Motor Sport Council has unanimously approved the change of control of Delta Topco Ltd. from CVC Capital Partners in favor of Liberty Media Corp. at an extraordinary meeting in Geneva. The transaction will see the transfer of 100% of the shares in Delta Topco to Liberty Media Group, one of the tracking stocks of Liberty Media Corp. During the meeting, the representatives of the prospective new owner made a detailed presentation of their strategy. Liberty, Formula One Group and the FIA intend to collaborate to create a constructive relationship that will ensure the continued success and the development of the FIA Formula 1 World Championship in the long-term. The FIA holds a 1% shareholding in Delta Topco. As part of the sale by CVC to Liberty Media, and in line with the agreements between the FIA and the Formula One Group, the FIA will be dragged along in the sale process under the same conditions as CVC and all the other shareholders (FIA). REUTERS' Ismail Shakil reported Liberty Media, controlled by U.S. cable mogul John Malone, "took control of the cash-generating sport in September" in a deal valued at $8B, ending a "long-running saga surrounding the sport's ownership and potential flotation." The company said in December that it would raise $1.55B for the takeover through investors, including Coatue Management LLC, D. E. Shaw, and Jana Partners, that had "committed to a financing through a subscription for Liberty's Series C common stock" (REUTERS, 1/17).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

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.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2017/01/19/Leagues-and-Governing-Bodies/FIA-F1-Liberty-Media.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2017/01/19/Leagues-and-Governing-Bodies/FIA-F1-Liberty-Media.aspx

CLOSE