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FIA Approves Sale Of Formula One Group To Liberty Media
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The World Motor Sport Council has unanimously approved the change of control of Delta Topco Limited (the holding company of the Formula One Group and thus the owner of the Commercial Rights of the FIA Formula One World Championship) from CVC Capital Partners in favor of Liberty Media Corporation at a meeting in Geneva.
The transaction will see the transfer of 100% of the shares in Delta Topco to Liberty Media Group, one of the tracking stocks of Liberty Media Corporation.
During the meeting, representatives of the prospective new owner made a detailed presentation of their strategy. The members of the World Motor Sport Council then had the opportunity to ask questions about the specifics of the agreement, the ongoing working relationship with the FIA and Liberty’s plans for the sport.
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 organization with expertise in both sport and entertainment, is well positioned to ensure the continued development of its pinnacle Championship.
The FIA holds a 1 percent shareholding in Delta Topco. 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 carried along in the sale process under the same conditions as CVC and all other shareholders.
The transaction will see the transfer of 100% of the shares in Delta Topco to Liberty Media Group, one of the tracking stocks of Liberty Media Corporation.
During the meeting, representatives of the prospective new owner made a detailed presentation of their strategy. The members of the World Motor Sport Council then had the opportunity to ask questions about the specifics of the agreement, the ongoing working relationship with the FIA and Liberty’s plans for the sport.
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 organization with expertise in both sport and entertainment, is well positioned to ensure the continued development of its pinnacle Championship.
The FIA holds a 1 percent shareholding in Delta Topco. 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 carried along in the sale process under the same conditions as CVC and all other shareholders.
