News Details
Carey: We've successfully eliminated a $1-billion tier of debt
Formula 1 chief Chase Carey has revealed that a $1-billion debt has been eliminated as shown in the Liberty Media financial results for the second quarter of this year. Carey confirmed, 'We've successfully eliminated an expensive $1-billion tier of debt, repriced our remaining debt, and have also received upgrades from the ratings agencies. The combined effects of which will be to reduce annual interest expense by up to $90-million going forward.' 'Under impending changes to UK tax law, which are expected to be introduced shortly, and which will cap interest deductibility at a percentage of EBITDA, at our current level of pre-tax profitability the interest that has been saved would no...
Full Story »
Full Story »
7y ago from GrandPrix247.com
0
You May Also Be Interested In...
Liberty Media announces $1bn F1 debt reduction
Despite Formula 1 being on its summer break, new owners Liberty...
7y ago from MotorsportWeek.com
Carey: Increase in F1 viewers, attendance and...
Liberty Media Corporation have released second quarter 2017 financial...
7y ago from GrandPrix247.com
New F1 engine to be ‘better’ – Carey
New F1 CEO Chase Carey has revealed that a new engine, cost cuts, and...
7y ago from ThisIsF1.com
Elsewhere On The Network
Popular On MGPToday.com
Alex Marquez out of surgery after Dutch GP crash, Luca...
No description available...
2h ago from Motorsport.com
Why Jorge Martin’s standoff against Aprilia is...
No description available...
5h ago from Motorsport.com
Jorge Martin nears return after being declared fit for...
No description available...
6h ago from Motorsport.com
The winners and losers from MotoGP's Dutch Grand Prix
No description available...
8h ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar will not return to Thermal Club in 2026...
According to comments made by Thermal Club founder and owner Tim Rogers,...
4d ago from MotorsportWeek.c...
Where does Santino Ferrucci see his first IndyCar win...
No description available...
3d ago from Motorsport.com
Malukas’ recovery drive secures Foyt’s best team...
During Sunday’s IndyCar race at Road America, David Malukas was the...
5d ago from MotorsportWeek.c...
Winners and Losers from IndyCar’s Road America...
No description available...
1w ago from Motorsport.com
Popular On TotalWRC.com
Why Ott Tanak feared final stage drama could cost his...
No description available...
1d ago from Motorsport.com
WRC Acropolis Rally: Ott Tanak ends Hyundai’s...
No description available...
1d ago from Motorsport.com
FIA investigates WRC retirements due to fuel system...
No description available...
1d ago from Motorsport.com
What was behind the WRC Acropolis retirement that...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
Arsenal make shock move to sign 100 million-rated...
Premier League giants Arsenal are set to make a move for reported...
51m ago from SportsKeeda.com
Arsenal receive major boost in efforts to pip...
Arsenal are in the market for a new left winger, and one of their leading...
2h ago from CaughtOffside.com
Arsenal could face battle with Spurs to sign £67.5m...
t;li>Arsenal officials met Eze’s agents to discuss termsCrystal...
2h ago from TheGuardian.com
Arsenal still keen on Premier League striker –...
Arsenal are still searching to sign a new striker, with moves for their...
3h ago from CaughtOffside.com
Comments
Hottest News
FIA issue Lando Norris disqualification verdict at Austrian...
The FIA have issued a comprehensive verdict for... Read More »
1d ago from GPFans.com
Alpine agree mid-season driver swap for British Grand Prix
Alpine have agreed to a mid-season F1 swap for... Read More »
2h ago from GPFans.com
Max Verstappen Silverstone fate sealed as Red Bull star...
Max Verstappen's threat of an F1 race ban has... Read More »
1h ago from GPFans.com
