user icon

Liberty Media finalising F1 buyout

  • Published on 14 Dec 2016 16:35
  • comments 0
  • By: Dominik Wilde

Liberty Media has revealed that they have begun negotiations with third-party investors ahead of their buyout of Formula One.

The American media giant initially bought an 18.7% stake in the sport for a reported $746 million, and is now looking to buy all of Delta Topco's shares. Delta Topco is the parent company of F1.

Third party investors Coatue Management, the Shaw group, JANA Partners, Ruane, Cunniff & Goldfarb, Soroban Capital Partners, SPO Advisory, and Viking Global Investors, are now teaming up with Liberty Media to finalise the purchase.

"This is a significant step in Liberty Media's transformative acquisition of Formula 1 and is further confirmation that the future of the sport is bright," said F1 chairman Chase Carey.

Greg Maffei, President and CEO of Liberty Media, added of the agreement: "We are excited that this impressive list of investors will participate in the acquisition of Formula 1.

"This group shares our enthusiasm for the sport and our belief in the opportunity to develop and grow it for the benefit of the fans, teams, sponsors and our shareholders.

"We look forward to closing the transaction in early 2017."

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2022

Show full world champion standings

Test calendar

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Formula 1 Calendar - 2022

Date
Grand Prix
Circuit
-
Spain
-
Bahrain
18 - Mar 20
Bahrain
25 - Mar 27
Saudi Arabia
8 - Apr 10
Australia
22 - Apr 24
Italy
6 - May 8
United States of America
20 - May 22
Spain
27 - May 29
Monaco
10 - Jun 12
Azerbaijan
17 - Jun 19
Canada
1 - Jul 3
United Kingdom
8 - Jul 10
Austria
22 - Jul 24
France
29 - Jul 31
Hungary
See full schedule

Formula 1 Calendar - 2022

Date
Grand Prix & Circuit
18 - Mar 20
25 - Mar 27
Saudi Arabia Jeddah Street Circuit
8 - Apr 10
Australia Albert Park
22 - Apr 24
6 - May 8
United States of America Miami International Autodrome
20 - May 22
27 - May 29
Monaco Monte Carlo
10 - Jun 12
Azerbaijan Baku City Circuit
17 - Jun 19
1 - Jul 3
United Kingdom Silverstone
8 - Jul 10
Austria Red Bull Ring
22 - Jul 24
France Paul Ricard
29 - Jul 31
Hungary Hungaroring
See full schedule
show sidebar