FIA approve sale of F1 to Liberty Media

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Liberty Media chairman John Malone REUTERS/Rick Wilking/Files (UNITED STATES)

The process is nearly complete with the FIA rubber-stamping the acquisition of Formula 1 by American media company, Liberty Media. A statement from the FIA said:

“The World Motor Sport Council’s decision confirms the FIA’s belief that Liberty, as a renowned media organisation with expertise in both sport and entertainment, is clearly well positioned to ensure the continued development of its pinnacle championship.

“The FIA holds a one per cent shareholding in Delta Topco [Formula 1’s parent company].

“As part of the sale by CVC to Liberty Media Corporation, 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.

“The FIA looks forward to working with the new owners of the Formula One Group on further developing the unrivalled global spectacle that is the FIA Formula One World Championship for all stakeholders.”

There was concern that the FIA’s stakeholder position could create concern over a perceived conflict of interest but the pieces have all come together and Liberty is hoping to have the deal finalized by the end of the month. 

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meine
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meine

As I understood it the concern was only by one not-well informed person,