Who owns Formula One Racing?: Liberty Media Corporation completes F1 acquisition for $8 Billion in total Transactional Value
Formula One motorsport has had a group of owners previously from the likes of CVC Capital Partners, and Bernie Ecclestone to Liberty Media.
Formula One is the pinnacle of motorsports with its long history since the 1950s. It has been on an upward trajectory since Liberty Media’s arrival in 2017.
Motorsport has seen a massive growth of over 4% year-on-year increase in its TV audience to 1.55 billion. It has attracted a younger audience thanks to Netflix’s Drive to Survive and capitalizing on social media.
Delta Topco owned Formula One previously
F1 held its first race in Turin back in 1946 with the rise of the European Championship of Grand Prix. Since then, it has become one of the most famous sports in the world.
Delta Topco group which was a Jersey-based company was the original owner of Formula One Group. There were plenty of investors like CVC Capital Partners, Bernie Ecclestone, and Waddell & Reed part of the Delta Topco Group.
CVC Capital Partners held 35.5% of the shares with the rest divided among other investors. Bernie Ecclestone acted as Formula One Group’s Chief Executive Officer until its sale to Liberty Media Corporation.
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Liberty Media Corporation completes F1 acquisition
In January 2017, Liberty Media Corporation finalized the deal of buying Formula One. They purchased F1 from the parent company Delta Topco for US$4.6 billion lifting the overall transaction value to $8 billion.
US Media giant Liberty Media Corporation is owned by billionaire John Carl Malone. His other ventures include radio media SiriusXM and the basketball team Atlanta Braves.
Also Read: Why Formula 1 cars can’t run on the road
Liberty Media being smart business owners have divisions in all of their ventures. Their divisions include Braves Group, Liberty SiriusXM Group, and Formula One Group.
Stefano Domenicali acts as Formula One’s President & CEO taking the role of former CEO Chase Carey. Former Ferrari and Brawn GP boss Ross Brawn is F1’s Managing Director of Motor Sports.
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