F1 CEO Chase Carey and Liberty Media President & CEO Greg Maffei on Thursday both said that Liberty remains committed to F1, appearing to address circulating rumors that the firm could look to bow out of the sport. The two spoke during Liberty’s earnings call, and Carey said at one point during his turn that Liberty is “firm in our commitment” to the series, which Liberty purchased just two years ago for $8B. Maffei then added, “I'd like to finish by reiterating the point that Chase just made. We are very pleased with the progress that F1 has made over the last two years. We are confident that tremendous potential still exists; we realize the hard work and dedication that Chase and the team have put into building out this organization, and we look forward to seeing payoff soon. We are committed to the F1 business.” This was Liberty's first earnings call in the wake of recent reports that suggested that it could look to offload either part or all of its equity in F1 after hitting some initial hurdles in its bid to overhaul it.
