Andy_Bangle Posted September 8, 2016 Report Share Posted September 8, 2016 (edited) It's been talked about for a while, but now it's finally happening: U.S. media company Liberty Media has bought an 18.7% stake in F1 worth $4.4 billion, which will eventually evolve into a full purchase. They will complete the purchase of Delta Topco (the parent company of F1) before the end of the first quarter of 2017 - $8 billion cash!! F1's CEO Bernie Ecclestone will remain in his position for the foreseeable future with Chase Carey, executive vice president for 21st Century Fox, stepping in as chairman. Liberty Media would likely put down another $4-5 billion at a later stage to take over the rest of the 35.5% stake of F1's largest shareholder, CVC Capital partners. Liberty Media intends to change its name to the Formula 1 Group. CVC will own 65% of the Liberty when it's renamed. Edited September 8, 2016 by Andy_Bangle Link to comment Share on other sites More sharing options...
cruiser647 Posted September 8, 2016 Report Share Posted September 8, 2016 Old Bernie - he does have a charmed life. Link to comment Share on other sites More sharing options...
Cuprabob Posted September 8, 2016 Report Share Posted September 8, 2016 You do have to take your hat off to him... Link to comment Share on other sites More sharing options...
Arch Posted September 8, 2016 Report Share Posted September 8, 2016 Just now, Cuprabob said: You do have to take your hat off to him... Is that one of the new regulations for 2017? 3 Link to comment Share on other sites More sharing options...
Andy_Bangle Posted September 8, 2016 Author Report Share Posted September 8, 2016 It's quite interesting when you look at who owns F1 and how much money is generated - Leeman Brothers Estates are in for a wack too and Bambino Holdings is Bernie's family tax dodge trust fund. Who owns Formula One: The value shareholders have extracted from the sport: This final chart indicates the FOM race fees taken from each of the circuits the F1 circus will visit over the 2016 season: You can see why they are keen to host more races outside Europe. Link to comment Share on other sites More sharing options...
CarMad Posted September 8, 2016 Report Share Posted September 8, 2016 I wonder if this will mean that Virgin will get 4K broadcasts as well as Sky next year? Link to comment Share on other sites More sharing options...
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