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F1 teams will have chance to invest, says Liberty Media

New Formula One owners Liberty Media have announced teams will have the chance to invest in the sport in the near future.
New Formula One owners Liberty Media have announced teams will have the chance to invest in the sport in the near future, with a number of F1 squads already expressing a desire to become deeper involved.

It has been confirmed US company Liberty Media will complete its takeover as majority shareholder in F1 when it purchases CVC Capital Partner's stake in a deal totalling £6bn, which the includes £3.1bn debt F1 currently carries.

READ: Liberty Media confirms F1 purchase

Liberty Media will instate Chase Carey, current executive vice chairman of 21st Century Fox, as new chairman with Bernie Ecclestone remaining as chief executive 'for three years'.

In the press release confirming the deal, Liberty Media has stated F1 teams will get the chance to invest in the sport with the fine details to be decided at a later date.

“The Teams will be given the opportunity to participate in the investment in Formula One, and the detailed terms of that investment will be agreed in due course,” the statement read. “Certain teams have already expressed an interest in investing after completion of the acquisition.”

Carey is relishing the prospect of working alongside Ecclestone and sees the new deal as a 'great opportunity' to strengthen F1 for both fans, squads and its investors.

"I am thrilled to take up the role of Chairman of Formula One and have the opportunity to work alongside Bernie Ecclestone, CVC, and the Liberty Media team,” Carey said. “I greatly admire Formula One as a unique global sports entertainment franchise attracting hundreds of millions of fans each season from all around the world.

“I see great opportunity to help Formula One continue to develop and prosper for the benefit of the sport, fans, teams and investors alike."

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MaddMe

September 09, 2016 12:53 PM

Hopefully any investment they make will not include voting rights... I would also say a fraud investigation should be made to clarify the reasons behind F1 accruing debts of 3.1b, especially when it's a billionaire running it (with both daughters rumoured to get something like a billion between them from the sale) and a venture capitalist group formerly at the helm...



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