News Details
Maffei: $1.4 billion lifeline will 'preserve health of F1 ecosystem'
A reallocation of assets by Liberty Media has handed F1 a massive $1.4 billion lifeline that will help the sport and its teams navigate the current economic downturn. The reallocation announced on Thursday by Liberty re-attributed the holding's stake in Live Nation Entertainment from the Formula One Group to its SiriusXM tracking stock, with $1.5 billion in net asset value moving from each entity to the other. The change has considerably reduced Formula 1's debt while also providing it with a cash injection of $1.4 billion that, according to Liberty, "strengthens FWON [Holdco] balance sheet, provides potential liquidity for F1 in event of continued delay of season, including...
Full Story »
Full Story »
You May Also Be Interested In...
Formula 1 has 'advanced money' to certain teams -...
Liberty Media CEO Greg Maffei says that Formula 1 has extended cash...
5y ago from F1i.com
Liberty boss admits closed door events pose 'economic'...
Liberty Media CEO Greg Maffei says F1 will most likely resort to running...
5y ago from F1i.com
Liberty responds: 'Maybe do other things to help F1...
Liberty Media has already paid out an advance on the prize money to some...
5y ago from GPBlog.com
Liberty makes advance payments to teams after $1.5b...
Formula 1’s commercial rights holder Liberty Media boosted the...
5y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Jorge Martin on Aprilia's Brazil GP chances: 'We are a...
No description available...
4h ago from Motorsport.com
Why Marc Marquez is still not at 2025 MotoGP level...
No description available...
6h ago from Motorsport.com
Fabio Quartararo explains how he pulled off Brazilian...
No description available...
8h ago from Motorsport.com
MotoGP Brazilian GP: Marc Marquez scores comeback win...
No description available...
22h ago from Motorsport.com
Popular On IndyCarToday.com
Legacy Grand Prix of Long Beach promoter Jim...
No description available...
18h ago from Motorsport.com
Takuma Sato set for Indy 500 return with Rahal...
No description available...
4d ago from Motorsport.com
Takuma Sato makes Indy 500 return with RLL
Rahal Letterman Lanigan Racing has announced that Takuma Sato will drive...
4d ago from MotorsportWeek.c...
Helio Castroneves confirms return for 26th...
Helio Castroneves has confirmed that he will take part in the upcoming...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Kalle Rovanpera’s Super Formula programme paused...
No description available...
1d ago from Motorsport.com
Kalle Rovanpera’s Super Formula programme suspended...
No description available...
1d ago from Motorsport.com
WRC Safari Rally Kenya: Oliver Solberg wants more rain...
No description available...
1d ago from Motorsport.com
Takamoto Katsuta breaks down in tears after...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
“Such a shame”, “The biggest mistake” -...
Arsenal fans on X are fuming at Mikel Arteta after he included Kepa...
1h ago from SportsKeeda.com
‘Very rash’ – Upson slams referee after Hincapie...
A controversial refereeing decision involving Piero Hincapie became one of...
56m ago from CaughtOffside.com
Gary Neville says one Man City player has not got...
Jeremy Doku came in for criticism from Gary Neville during a subdued first...
36m ago from CaughtOffside.com
Vital Arsenal duo out of Carabao Cup final as Arteta's...
Arsenal will be without key duo Eberechi Eze and Jurrien Timber for...
2h ago from CaughtOffside.com
Comments
Hottest News
Ex-F1 star reveals ‘jealousy' over Adrian Newey-Aston...
Jenson Button admits being "jealous"... Read More »
1h ago from MotorsportWeek.com
‘Pray with me’ – Stroll’s blunt plea amid Aston...
There’s optimism, and then there’s whatever... Read More »
1h ago from F1i.com
Mercedes release official statement after disqualification...
Mercedes have released a statement after being... Read More »
7h ago from GPFans.com
