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Liberty says F1 challenges opportunities bigger than expected
Liberty Media says that running its new F1 business has proved more challenging than expected, but at the same time it has discovered that the rewards are also potentially larger. The American company took over the ownership of the sport last year, and has vowed to make it more spectacular for the fans. Liberty president and CEO Greg Maffei also stressed that F1's profit margins will not rise in the short term, as the company will have to invest. "I think everything that we thought about this business and the opportunity as we did our due diligence, and the time we spent prior to purchasing F1, has only been confirmed," said Maffei. "There is enormous opportunity in areas...
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7y ago from Motorsport.com
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