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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."

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Formula 1 Calendar - 2021

Date
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Bahrain
26 - Mar 28
Bahrain
16 - Apr 18
Italy
7 - May 9
Spain
21 - May 23
Monaco
4 - Jun 6
Azerbaijan
25 - Jun 27
France
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16 - Jul 18
United Kingdom
30 - Aug 1
Hungary
27 - Aug 29
Belgium
3 - Sep 5
Netherlands
10 - Sep 12
Italy
24 - Sep 26
Russian
1 - Oct 3
Singapore
8 - Oct 10
Japan
22 - Oct 24
United States of America
29 - Oct 31
Mexico
5 - Nov 7
Brazil
19 - Nov 21
Australia
3 - Dec 5
Saudi Arabia
10 - Dec 12
United Arab Emirates
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Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28
16 - Apr 18
7 - May 9
21 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
25 - Jun 27
France Paul Ricard
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
1 - Oct 3
8 - Oct 10
22 - Oct 24
United States of America Circuit of the Americas
29 - Oct 31
5 - Nov 7
Brazil Interlagos
19 - Nov 21
Australia Albert Park
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
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