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Formula 1 bought by US company Liberty Media
The expected sale of Formula 1 to new owners has taken place, with Liberty Media buying the sport. Announced late on Wednesday night, Liberty media revealed that they have agreed a deal to fully acquire the sport and have already purchased a minority ownership of 18.7%, having already handed over 746 million dollars. While present owners CVC Capital Partners remain owners for now, the deal is expected to reach 100% takeover by early 2017, with Liberty taking over the entire share held by F1 parent company Delta Topco. Liberty have announced former FOX CEO & current 21st Century FOX vice-chairman Chase Carey will become Chairman of Formula 1. He says: 'I am thrilled to take up the role of...
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8y ago from FormulaSpy.com
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