News Details
F1 teams given option to purchase shares by Liberty Media
Formula 1 teams are to be given the option to purchase a stake in the sport by new commercial rights holders Liberty Media, in a bid to bring a closer working partnership between the squads and the sports parent company. Previous majority shareholder CVC Capital Partners, had owned a twenty percent stake in the business, and this portion will be offered out to the teams at $22 a share, though no team will be allowed to amass more than a five percent stake. Taking up the deal on offer would see the team enjoy a share in the annual profits generated by the business, but that is where the benefits are believed to stop, with no voting rights relating to strategy, technology, marketing,...
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8y ago from TheCheckeredFlag.co.uk
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