World Motor Sport Council approves sale of F1 to Liberty | Inquirer Sports

World Motor Sport Council approves sale of F1 to Liberty

/ 02:50 AM January 19, 2017

FIA flag

(Photo from the Formula 1 website)

GENEVA — The World Motor Sport Council has approved Formula One being sold to Liberty Media, a US company that invests in entertainment and sports, for $4.4 billion.

Liberty Media Corp., which is controlled by 75-year-old tycoon John Malone, ended years of uncertainty about the ownership of the auto racing series with the takeover announcement in September.

Article continues after this advertisement

Four months on, the WMSC approved at a meeting Wednesday the change of control of Delta Topco, F1’s holding company, from investment fund CVC Capital Partners to Liberty Media Group.

The new F1 season starts in Melbourne on March when the buyout is expected to be completed.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: formula 1

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.