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Liberty admits 'zero races' possible in 2020
Apr.24 Liberty Media has reshuffled its finances to free up a $1.4 billion fund to rescue Formula 1 amid the corona crisis. The F1 owner is quoted by Forbes' F1 business journalist Christian Sylt as outlining how the complex transaction gives it the ability to use the money "for F1 in event of continued delay of season, including preserving health of ecosystem". Liberty CEO Greg Maffei revealed that the organisation has already "advanced prize money to certain teams". "There are cases where we may do more of that. There are other things that we might do to bridge teams that might need help," he added. Maffei said Liberty needs the teams to stay "solvent...
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5y ago from OneStopStrategy.com
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