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Liberty's F1 betting gamble pays out immediately
Liberty Media's decision to jump into bed with gambling companies has polarised fans, reversed four decades of Formula 1 tradition, but it has also immediately began to pay off for F1's American owners. F1's share price climbed a meaty 7.4% on Tuesday after Liberty's latest deal was revealed. Former owner Bernie Ecclestone was a long-time opponent of betting sponsorship and F1 having any kind of relationship, believing it could damage the brand worldwide. But marketing agency Interregional Sports Group (ISG) have reached an agreement with Liberty and it is understood that they will pay the full $100m amount up front, with ISG then tasked with securing deals with betting companies on a...
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