News Details
Maffei: $1.4 billion lifeline will 'preserve health of F1 ecosystem'
A reallocation of assets by Liberty Media has handed F1 a massive $1.4 billion lifeline that will help the sport and its teams navigate the current economic downturn. The reallocation announced on Thursday by Liberty re-attributed the holding's stake in Live Nation Entertainment from the Formula One Group to its SiriusXM tracking stock, with $1.5 billion in net asset value moving from each entity to the other. The change has considerably reduced Formula 1's debt while also providing it with a cash injection of $1.4 billion that, according to Liberty, "strengthens FWON [Holdco] balance sheet, provides potential liquidity for F1 in event of continued delay of season, including...
Full Story »
Full Story »
You May Also Be Interested In...
Formula 1 has 'advanced money' to certain teams -...
Liberty Media CEO Greg Maffei says that Formula 1 has extended cash...
5y ago from F1i.com
Liberty boss admits closed door events pose 'economic'...
Liberty Media CEO Greg Maffei says F1 will most likely resort to running...
5y ago from F1i.com
Liberty responds: 'Maybe do other things to help F1...
Liberty Media has already paid out an advance on the prize money to some...
5y ago from GPBlog.com
Liberty makes advance payments to teams after $1.5b...
Formula 1’s commercial rights holder Liberty Media boosted the...
5y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Liberty Media can’t follow its F1 play to boost...
No description available...
7h ago from Motorsport.com
Johann Zarco spends MotoGP summer break winning Suzuka...
No description available...
14h ago from Motorsport.com
Guenther Steiner finalizing purchase of Tech3 MotoGP...
No description available...
2d ago from Motorsport.com
Former F1 team principal Guenther Steiner set to take...
Former Haas Formula 1 team principal Guenther Steiner is finalising a...
2d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
FOX Corporation acquires one-third stake in IndyCar...
No description available...
4d ago from Motorsport.com
FOX acquires 33% stake in Penske Entertainment, IndyCar
Fox Corporation, parent company of broadcast company FOX Sports, has...
4d ago from MotorsportWeek.c...
Colton Herta: IndyCar at Laguna Seca is a...
IndyCar’s latest visit to Laguna Seca produced rave reviews from...
5d ago from MotorsportWeek.c...
Alex Palou will not play it safe in Portland to secure...
No description available...
6d ago from Motorsport.com
Popular On TotalWRC.com
Sebastien Ogier sets sights on WRC 2025 title push
No description available...
15h ago from Motorsport.com
Kalle Rovanpera relieved to finally achieve...
No description available...
1d ago from Motorsport.com
WRC Rally Finland: Kalle Rovanpera takes historic home...
No description available...
1d ago from Motorsport.com
Kalle Rovanperä hits the jackpot
Kalle Rovanperä and Jonne Halttunen finally won Rally Finland, laying to...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arsenal vs Villarreal Prediction and Betting Tips |...
Arsenal resume their pre-season tour with another club friendly this week...
2h ago from SportsKeeda.com
Former Arsenal and Chelsea star David Luiz completes...
Former Arsenal and Chelsea defender David Luiz has joined Pafos FC. The...
8h ago from SportsKeeda.com
Thomas Partey close to joining Villarreal in week of...
t;li>Former Arsenal midfielder has denied rape chargesPartey has agreed...
11h ago from TheGuardian.com
Arsenal not alone in race to sign Jeremy Jacquet;...
Arsenal are not the only club eyeing a move for Jeremy Jacquet this...
10h ago from SportsKeeda.com
Comments
Hottest News
Kelly Piquet goes quiet on social media and reveals the...
F1 champion Max Verstappen's partner Kelly Piquet... Read More »
1h ago from GPFans.com
Sky F1 pundit gets police escort after Hungarian GP
Sky F1 pundit Naomi Schiff was given a police... Read More »
5h ago from GPFans.com
Brad Pitt's F1 movie breaks box office record
The F1 movie has proven to be one of Brad... Read More »
2h ago from GPFans.com
