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Teams being offered commercial rights shares

  • Published on 28 Dec 2016 14:40
  • comments 0
  • By: Dominik Wilde

New Formula One owners Liberty Media are offering shares in the sport but not voting rights.

That is the claim of Germany's Auto Motor und Sport which claims that Liberty Media are keen for teams to take a 20% stake in the sport's commercial rights.

"Liberty has good reasons to invite the teams," Schmidt wrote. "Shareholders will not leave overnight.

"But the deal has a catch. Although the teams will benefit from the earnings and will get a seat on the board, they will not vote.

"When it comes to new strategies, regulations, marketing campaigns, the distribution of money or the appointment of the CEO, Liberty will not include the teams," he added.

It is believed teams have until January to decide whether to go ahead with the involvement.

Liberty Media's purchase of Formula One continues to leave a cloud hanging over the future of F1 supremo Bernie Ecclestone.

F1 legend Sir Jackie Stewart told the Swiss newspaper Sonntagsblick: "There will never, ever be another Bernie Ecclestone.

"He is unique in the whole world of sport -- no man has ever made as much money, for himself and for everyone else."

"Liberty needs to find a solution," he said.

"When Pete Rozelle died, everyone thought it was the end of the NFL. But it grew even bigger and better, because the new people brought a different culture and new methods.

"But at the moment there are not many things you can do (in F1) without Bernie. If he cooperates with the new owners, it will be great, including for the fans, who must move back into the foreground," Stewart added.

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Date
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Bahrain
26 - Mar 28
Bahrain
16 - Apr 18
Italy
7 - May 9
Spain
20 - May 23
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4 - Jun 6
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18 - Jun 20
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25 - Jun 27
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30 - Aug 1
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10 - Sep 12
Italy
24 - Sep 26
Russian
8 - Oct 10
Japan
8 - Oct 10
Turkey
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
20 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
18 - Jun 20
France Paul Ricard
25 - Jun 27
Austria Red Bull Ring
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
8 - Oct 10
8 - Oct 10
Turkey Istanbul Park
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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