News Details
Liberty Media share offer, not taken up by F1 teams
F1 teams have rebuffed the chance to become shareholders in the sport, an offer that was proffered up by new majority owners Liberty Media recently. Having now completed their takeover of F1, Liberty has made the first steps towards showing the teams that they are important to the future of the sport, by allowing them the chance to purchase up to a 20% stake in the commercial rights. However, teams would have no right to vote or influence the decision-making process as part of the arrangement, and that fact appears to have been a deal breaker for the F1 squads. Liberty Media had set aside $400 million of shares in Formula 1 for teams to purchase, which they will hold onto for six months...
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9y ago from TheCheckeredFlag.co.uk
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