F1 takeover by Liberty Media approved by FIA World Motor Sport Council

Liberty Media's purchase of Formula 1 has received unanimous approval from members of the FIA World Motor Sport Council, paving the way for the deal to be completed

F1 takeover by Liberty Media approved by FIA World Motor Sport Council

The deal results in the transfer of 100% of the shares in Delta Topco, F1's parent company, to Liberty Media Group.

The prospective new owner, which will be renamed Formula One Group, made a detailed presentation of its strategy at the meeting.

Members were then given the opportunity to ask questions about the agreement, the working relationship with the FIA and the company's plans for F1.

An FIA statement said: "Liberty, Formula One Group and the FIA intend to collaborate to create a constructive relationship that will ensure the continued success and the development of the FIA Formula One World Championship in the long term.

"The World Motor Sport Council's decision confirms the FIA's belief that Liberty, as a renowned media organisation with expertise in both sport and entertainment, is clearly well positioned to ensure the continued development of its pinnacle championship.

"The FIA holds a one per cent shareholding in Delta Topco [Formula 1's parent company].

"As part of the sale by CVC to Liberty Media Corporation, and in line with the agreements between the FIA and the Formula One Group, the FIA will be dragged along in the sale process under the same conditions as CVC and all the other shareholders.

"The FIA looks forward to working with the new owners of the Formula One Group on further developing the unrivalled global spectacle that is the FIA Formula One World Championship for all stakeholders."

Liberty hopes the acquisition will close before the end of the month.

shares
comments
Pirelli granted extra F1 pre-season wet weather test

Previous article

Pirelli granted extra F1 pre-season wet weather test

Next article

Will F1's 2017 rule changes improve racing?

Will F1's 2017 rule changes improve racing?
Load comments
What Verstappen is risking with his current stance on 2021 F1 world title defeat Plus

What Verstappen is risking with his current stance on 2021 F1 world title defeat

OPINION: Max Verstappen is back in the lead of the 2021 Formula 1 drivers’ championship, with the season’s final flyaway events set to get underway in the USA this weekend. But a defensive stance he’s recently adopted could have a lasting impact for the Red Bull driver when it comes to his chances of defeating Lewis Hamilton and Mercedes

The hidden Ferrari struggle that Sainz’s recent charge put to rest Plus

The hidden Ferrari struggle that Sainz’s recent charge put to rest

Despite appearing to adjust to life as a Ferrari driver with relative ease, it was far from straightforward under the surface for Carlos Sainz Jr. But, having made breakthroughs in rather different routes at the Russian and Turkish races, he’s now targeting even greater feats for the rest of the Formula 1 season

Formula 1
Oct 20, 2021
The final throes of Brazil's fleetingly successful F1 team Plus

The final throes of Brazil's fleetingly successful F1 team

Emerson Fittipaldi is better remembered for his Formula 1 world championships and Indianapolis 500 successes than for the spell running his eponymous F1 team. Despite a hugely talented roll call of staff, it was a period of internal strife, limited funding and few results - as remembered by Autosport's technical consultant

Formula 1
Oct 18, 2021
Why McLaren's expanding agenda will benefit its F1 resurgence Plus

Why McLaren's expanding agenda will benefit its F1 resurgence

In the 1960s and 1970s, McLaren juggled works entries in F1, sportscars and the Indy 500 while building cars for F3 and F2. Now it’s returning to its roots, expanding 
into IndyCars and Extreme E while continuing its F1 renaissance. There’s talk of Formula E and WEC entries too. But is this all too much, too soon? STUART CODLING talks to the man in charge

Formula 1
Oct 17, 2021
How Tsunoda plans to achieve his F1 potential Plus

How Tsunoda plans to achieve his F1 potential

Yuki Tsunoda arrived in grand prix racing amid a whirlwind of hype, which only increased after his first race impressed the biggest wigs in Formula 1. His road since has been rocky and crash-filled, and OLEG KARPOV asks why Red Bull maintains faith in a driver who admits he isn’t really that big a fan of F1?

Formula 1
Oct 15, 2021
The danger of reading too much into F1's clickbait radio messages Plus

The danger of reading too much into F1's clickbait radio messages

OPINION: After Lewis Hamilton responded to reports labelling him 'furious' with Mercedes following his heated exchanges over team radio during the Russian Grand Prix, it provided a snapshot on how Formula 1 broadcasting radio snippets can both illuminate and misrepresent the true situation

Formula 1
Oct 14, 2021
Why F1’s approach to pole winners with grid penalties undermines drivers Plus

Why F1’s approach to pole winners with grid penalties undermines drivers

OPINION: Valtteri Bottas is credited with pole position for the 2021 Turkish Grand Prix, despite being beaten in qualifying. This is another example of Formula 1 and the FIA scoring an own goal by forgetting what makes motorsport magic, with the Istanbul race winner also a victim of this in the championship’s recent history

Formula 1
Oct 13, 2021
Turkish Grand Prix Driver Ratings Plus

Turkish Grand Prix Driver Ratings

On a day that the number two Mercedes enjoyed a rare day in the sun, the Turkish Grand Prix produced several standout drives - not least from a driver who has hit a purple patch of late

Formula 1
Oct 11, 2021