News Details
Liberty reserves shares for teams
Liberty Media is to set aside $400m shares in F1 in the hope that the teams will purchase them. 'We think it's important to offer the teams the chance to invest in F1 and further align our interests,' said Greg Maffei, Liberty's President and Chief Executive Officer, of the move. 'We look forward to working with the teams to increase the appeal of this iconic sport and enhance the F1 business.' 'Several of the teams have expressed interest in investing and we have already begun productive discussions to make the sport more competitive and even more exciting,' added F1 Chairman, Chase Carey. The move sees 19 million shares (worth $400m) that would otherwise have been issuable to the selling...
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