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F1 teams will get opportunity to invest under new owners plans
Formula 1 teams will be given the opportunity to invest in the sport in return for an ownership stake according to investment plans from the sport's new owners, US-based Liberty Media. On Wednesday Liberty Media confirmed it had begun the process of buying out CVC's stake in Delta Topco - Formula One's parent company - in a deal worth £3.3 billion ($4.4bn). As part of their takeover, Bernie Ecclestone will continue as CEO, whilst 21st Century Fox's vice-chairman, Chase Carey, will become Chairman. Previously the teams had discussed taking a stake in the sport, but opted against the plan when the matter was discussed with then owner CVC, with the investment...
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8y ago from GrandPrixTimes.com
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