News Details
Maffei: $1.4 billion lifeline will 'preserve health of F1 ecosystem'
A reallocation of assets by Liberty Media has handed F1 a massive $1.4 billion lifeline that will help the sport and its teams navigate the current economic downturn. The reallocation announced on Thursday by Liberty re-attributed the holding's stake in Live Nation Entertainment from the Formula One Group to its SiriusXM tracking stock, with $1.5 billion in net asset value moving from each entity to the other. The change has considerably reduced Formula 1's debt while also providing it with a cash injection of $1.4 billion that, according to Liberty, "strengthens FWON [Holdco] balance sheet, provides potential liquidity for F1 in event of continued delay of season, including...
Full Story »
Full Story »
You May Also Be Interested In...
Formula 1 has 'advanced money' to certain teams -...
Liberty Media CEO Greg Maffei says that Formula 1 has extended cash...
5y ago from F1i.com
Liberty boss admits closed door events pose 'economic'...
Liberty Media CEO Greg Maffei says F1 will most likely resort to running...
5y ago from F1i.com
Liberty responds: 'Maybe do other things to help F1...
Liberty Media has already paid out an advance on the prize money to some...
5y ago from GPBlog.com
Liberty makes advance payments to teams after $1.5b...
Formula 1’s commercial rights holder Liberty Media boosted the...
5y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
MotoGP bikes are faster than F1 cars, mostly
No description available...
26m ago from Motorsport.com
Details emerge on Marc Marquez rejecting Honda's...
The details of Honda’s proposed colossal contract extension offer to...
18h ago from MotorsportWeek.c...
MotoGP riders say controversial tyre pressure rules...
No description available...
14h ago from Motorsport.com
Aleix Espargaro: Representing Honda MotoGP at Jerez a...
Aleix Espargaro says making his wildcard debut for Honda MotoGP at this...
17h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Takuma Sato reveals 94G impact in 233mph Indy 500...
No description available...
8h ago from Motorsport.com
Scott McLaughlin fastest as speeds top 232mph in Day 2...
No description available...
9h ago from Motorsport.com
Alex Palou tops busy final Indy 500 test day
The NTT IndyCar Series wrapped up a two day test session on Thursday,...
10h ago from MotorsportWeek.c...
Larson, Sato crash in high-boost Indy 500 test session
The second day of IndyCar’s Indy 500 open test opened with qualifying...
15h ago from MotorsportWeek.c...
Popular On TotalWRC.com
FIA: No plan to change WRC Rally1 rules for 2026 amid...
No description available...
14h ago from Motorsport.com
Fourmaux reacts to support from WRC rivals amid FIA...
No description available...
17h ago from Motorsport.com
M-Sport chief Malcolm Wilson nominated as FIA deputy...
Malcolm Wilson, OBE, and founder of title-winning WRC outfit M-Sport, has...
1d ago from MotorsportWeek.c...
Malcolm Wilson nominated as new FIA deputy...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
Lots of minutes = a couple of days off
Morning all. Ahead of the game against Crystal Palace on Mikel Arteta...
46m ago from Arseblog.com
Man City transfer news: Citizens 'eyeing summer swoop'...
Manchester City are allegedly interested in signing Paris Saint-Germain...
26m ago from SportsMole.co.uk
Exclusive: Asking price set for 30-goal star; Arsenal,...
Barcelona attacker Raphinha is clearly one of the hottest commodities on...
1h ago from CaughtOffside.com
The two signings Arsenal want next as they reach...
Arsenal are reportedly in advanced talks over signing Real Sociedad...
2h ago from CaughtOffside.com
Comments
Hottest News
Lewis Hamilton returns to London as Ferrari crisis deepens
The storm clouds are gathering at Maranello as... Read More »
1h ago from GPFans.com
Russell: ‘When things click, we’ll see more Hamilton...
George Russell is confident that Formula 1 will... Read More »
36m ago from F1i.com
Vettel handed Red Bull return boost after Marko confirms...
Formula 1 legend Sebastian Vettel has received a... Read More »
46m ago from GPFans.com
