News Details
Carey’s salary based on F1’s financial results, says Liberty
Formula 1 CEO Chase Carey’s remuneration is heavily tied to the financial performance of the organisation he runs, Liberty Media has confirmed. The news comes as Liberty’s overall results showed that in April to June F1 earned revenues of $616m, up 3 percent on the equivalent period last year, when Bernie Ecclestone was still in charge. However, operating income fell from $90m to $45m, a drop of 50 percent, as operating expenses and others costs rose. Expanding on Carey’s arrangements Liberty boss Greg Maffei noted: “We don’t plan to publish his contract, but I did want to share with you the fact that the substantial majority of Chase’s compensation is performance related, and...
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