News Details
Carey: We've successfully eliminated a $1-billion tier of debt
Formula 1 chief Chase Carey has revealed that a $1-billion debt has been eliminated as shown in the Liberty Media financial results for the second quarter of this year. Carey confirmed, 'We've successfully eliminated an expensive $1-billion tier of debt, repriced our remaining debt, and have also received upgrades from the ratings agencies. The combined effects of which will be to reduce annual interest expense by up to $90-million going forward.' 'Under impending changes to UK tax law, which are expected to be introduced shortly, and which will cap interest deductibility at a percentage of EBITDA, at our current level of pre-tax profitability the interest that has been saved would no...
Full Story »
Full Story »
8y ago from GrandPrix247.com
0
You May Also Be Interested In...
Liberty Media announces $1bn F1 debt reduction
Despite Formula 1 being on its summer break, new owners Liberty...
8y ago from MotorsportWeek.com
Carey: Increase in F1 viewers, attendance and...
Liberty Media Corporation have released second quarter 2017 financial...
8y ago from GrandPrix247.com
New F1 engine to be ‘better’ – Carey
New F1 CEO Chase Carey has revealed that a new engine, cost cuts, and...
8y ago from ThisIsF1.com
Elsewhere On The Network
Popular On MGPToday.com
KTM riders say top speed advantage has disappeared in...
No description available...
15h ago from Motorsport.com
What the concessions system will look like in MotoGP's...
No description available...
19h ago from Motorsport.com
Pedro Acosta explains what KTM needs to close the gap...
No description available...
1d ago from Motorsport.com
The weakness behind Marco Bezzecchi’s dominant...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar Long Beach – Qualifying Results
A slightly modified format was in play for IndyCar’s Long Beach...
6h ago from MotorsportWeek.c...
Felix Rosenqvist hopes Long Beach pole kickstarts...
No description available...
5h ago from Motorsport.com
Felix Rosenqvist secures IndyCar pole at Long Beach
25 cars rolled out on the historic Long Beach street circuit Saturday...
7h ago from MotorsportWeek.c...
Felix Rosenqvist beats Pato O’Ward to Long Beach...
No description available...
6h ago from Motorsport.com
Popular On TotalWRC.com
Ott Tanak lands 2027 WRC car testing role with Toyota
No description available...
1d ago from Motorsport.com
Thierry Neuville wants to "make everyone proud...
No description available...
1d ago from Motorsport.com
The Rally1 rookie proving he belongs in the WRC top...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
European giants eyeing up summer move for Arsenal star...
Ligue 1 giants Paris Saint-Germain (PSG) are reportedly interested in...
27m ago from SportsKeeda.com
Sources: Arsenal and Chelsea could submit 'creative...
Lucas Bergvall is being linked with a move away from Tottenham Hotspur at...
1h ago from CaughtOffside.com
Mikel Arteta's three-word 'final message' to Arsenal...
Arsenal manager Mikel Arteta has sent a simple three-word message to his...
9h ago from CaughtOffside.com
Manchester City vs Arsenal: Six things to watch in...
This is the big one – it's Manchester City vs Arsenal at the Etihad...
10h ago from CaughtOffside.com
Comments
Hottest News
Max Verstappen Nurburgring Results: NLS5 Top Qualifying...
F1 champion Max Verstappen returns to the... Read More »
57m ago from GPFans.com
Max Verstappen Nurburgring Results: NLS 5 Qualifying times...
F1 champion Max Verstappen returns to the... Read More »
1h ago from GPFans.com
Max Verstappen rival has racing licence revoked at...
Stewards from the DMSB had to take decisive... Read More »
27m ago from GPFans.com
