Who owns F1? Exploring the info behind the possession of the epitome of motorsport racing

F1 might look like an unbiased sport ruled solely by the FIA and by its CEO, Stefano Domenicali. Nevertheless, all the Method One Group is owned by an enormous American mass media firm known as Liberty Media. They’ve been the homeowners of the game for six years now. Together with the Method One Group, Liberty Media Company additionally owns the Braves Group and SiriusXM Group.

In late 2016, Liberty Media agreed to purchase the Method One Group for round $4.4 billion. The deal was finalized and accomplished in January 2017 for round $4.6 billion after Delta Topco transferred 100% of its shares to Liberty Media. After buying F1, Liberty Media appointed Chase Carey as CEO, however he was shortly changed by former Ferrari workforce boss Stefano Domenicali in 2020. Carey nonetheless works within the sport as a non-executive chairman.

2017, Liberty Media purchased out a consortium of sellers (together with Bernie Ecclestone who owned 5.3%) to personal F1. Transaction value represented an enterprise worth of $8bn and fairness worth of $4.4bn.Method 1 holds unique business rights to the FIA F1 One World Championship https://t.co/7N1cFgzbG1

The change in possession introduced large adjustments to F1. For example, the corporate determined to fully change the look of the game by rebranding the brand, font, TV graphics, audio stings, and many others. This was one of many many steps they took to make the game extra trendy.

Additionally they elevated the game’s attain by working tougher on numerous social media platforms and video streaming platforms. They launched F1 TV, which allowed followers to stream stay races on any system they needed. One of many largest offers Liberty Media made was with Netflix, which gave start to Netflix’s authentic net collection Drive to Survive. The fanbase expanded drastically with the assistance of the net collection as extra folks began taking an curiosity within the thrilling sport.

Ross Brawn on F1’s rise in reputation underneath Liberty Media

Ross Brawn, former managing director of F1’s sporting facet, praised Liberty Media for the game’s booming reputation. Ever for the reason that firm purchased Method One Group in 2017, the game’s fanbase has drastically elevated, and racing has improved as nicely.

Talking to Motorsport, Ross Brawn defined how Liberty Media focuses on bettering the game as an entire somewhat than chasing revenue margins. He mentioned:

“I feel Liberty have achieved an excellent job. I might say this, however they employed me! And whereas I say that, they recognised that they needed to enhance the game.”

Nice to be again within the F1 paddock and pitlane for pre season testing. A pleasure to speak to Ross Brawn in regards to the unbelievable innovation on the coronary heart of every of the brand new vehicles, particularly the Mercedes which is an idea he admitted “we didn’t anticipate.” 📸 @jamesmoy https://t.co/E2xuqaBFxY

Brawn additional defined:

“They didn’t simply are available and say ‘how can we enhance the margins?’ Their mindset was: ‘There’s this nice sport, how can we take the game forwards? As a result of the rewards will come after we take the game ahead, not by squeezing extra juice out of the lemon.’ And Greg [Maffei] and Chase [Carey] had that imaginative and prescient. And, fortunately, I had the chance to be concerned.”

He additionally talked about how he feels lucky to be concerned within the strategy of bettering F1 to the place it at the moment is. Quickly after Liberty Media purchased the Method One Group, Brawn was appointed because the managing director, in addition to motor sports activities and technical director.

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