Liberty Media has agreed to takeover Formula One for $8 billion with Bernie Ecclestone remaining the CEO of Formula One. The voting shares will pass to Liberty, and the new company is expected to push the sport into new media and target new audiences. Ecclestone has been responsible for Formula One’s success with TV deals and the sale of rights to host races. The questions remains how long he will stick around in this new era of Formula One.
See Giles Richards, Liberty Media Agrees $8bn Deal to Buy Formula One, Guardian, September 7, 2016.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
