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FIA welcomes Liberty Media's F1 takeover
– Formula 1's governing body, the FIA, says it welcomes the arrival of Liberty Media, following the news that the organisation will acquire the sport, and is eager to discuss its implications.Liberty Media, owned by John Malone, has taken on an 18.7 per cent stake and will ultimately acquire 100 per cent of Delta Topco's shares, the parent company of Formula 1, in a move worth $8 billion in total.Chase Carey, the Vice-Chairman of 21st Century Fox, becomes F1's new Chairman while Bernie Ecclestone will stay on as Chief Executive Officer, with the deal set to be closed in early 2017.The FIA, which has a 1 per cent stake in the sport, was not party to negotiations surrounding the...
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8y ago from GPUpdate.net
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