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Formula 1 set for ownership shake-up
Formula 1 looks set for a change of ownership Formula 1 is set for a major shake-up as Liberty Media closes in on a multi-billion dollar takeover of the category's commercial rights. A $10.4 billion (AUD) buyout of motorsport’s top tier by the American firm has been gathering momentum with reports suggesting a change of ownership is imminent. The deal will see Liberty Media Corp, headed by American media tycoon John Malone, takeover a controlling stake in F1 that has been held by CVC Capital Partners since 2005. The acquisition is expected to be conducted in two stages, with the full transfer of ownership to be completed before the end of the year, subject to FIA approval. The...
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