Formula One Might Get New Controlling Shareholders

Written By:

Formula 1, the most expensive branch of motorsport, might have a new company controlling its majority stake.

According to Sky News, Liberty Media Corporation, which is controlled by American media tycoon John Malone, is interested in acquiring F1.

The deal is not yet confirmed by the involved, in the reported negotiations. Instead, reports suggest that the current controlling shareholders of Formula 1 are in negotiations with Liberty Media.

The sources claim that a deal would involve a payment of $8.5 billion to own the prestigious motorsport event.

Bernie Ecclestone, the 85-year-old that controls the championship, would still be the man-in-charge for F1.

bernie ecclestone

Last year, Ecclestone had announced that there were three parties interested in buying.

Read more on: #formula one #auto news
Story first published: Saturday, August 27, 2016, 11:34 [IST]
Please Wait while comments are loading...

Latest Photos