- Home
- About us
- Vehicle management
-
Finance Information
- Deal search
-
Need a quote?
- Customer feedback
- Our latest news
- Contact us
Contact us
Quote
Newsletter subscribe
Abarth
Alfa Romeo
Audi
Bentley
BMW
Citroen
Dacia
Ds
Fiat
Ford
Honda
Hyundai
Jaguar
Jeep
Kia
Land Rover
Lexus
Maserati
Mazda
Mclaren
Mercedes-Benz
Mg
MINI
Mitsubishi
Nissan
Peugeot
Porsche
Renault
Seat
Skoda
Smart
Suzuki
Toyota
Vauxhall
Volkswagen
Volvo
BVRLA Membership NO: 8160
Liberty Media take control of Formula One
merican media company Liberty Media is taking control of Formula One, following a £5.9 billion deal with the sport’s parent company Delta Topco.
A statement, released by Liberty Media, confirmed that it would be taking an 18.7 per cent stake in the company, in conjunction with majority shareholders CVC. The stake is worth £559 million, with the entire process due to be completed in time for the 2017 season.
Delta Topco currently owns Formula One, with the primary stake in the company held by investors CVC Capital Partners. With these recent changes, Liberty Media will have full control of the sport.
Liberty Media will pay £3.29 billion in equity value, while also undertaking F1’s current debt of £3.07 billion.
After the move, Liberty Media Group will be renamed as the Formula One Group. Chase Carey will take position as the Chairman of Formula One, while current chief executive Bernie Eccelestone will retain his current position.
Carey said: “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.
“I see great opportunity to help Formula One continue to develop and prosper for the benefit of the sport, fans, teams and investors alike.”
Many of the current Formula One teams have shown their interest in continuing their investment in the sport, making this clear before the contractual details are finalised next season.
Current CEO Bernie Ecclestone said: “I would like to welcome Liberty Media and Chase Carey to Formula One and I look forward to working with them.”
Liberty Media take over – Five Key Points
1. Chase Carey is currently the executive vice president of 21st Century Fox
2. Bernie Ecclestone still holds all of the commercial rights to F1
3. Despite the change, Formula One will still be based in London
4. Teams will be given the chance to invest in Formula One
5. Chase Carey succeed Peter Brabeck-Letmahe, who will remain F1’s non-executive officer
Share this article 
Posted on 8th September 2016 at 10:06 PM
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
Contact us
T: 0161 478 4330
E:
Find us
360 Vehicle Management Ltd
Stoneholme
42 High Street
Bury
BL8 3AN
Finance types
More about us
Registered Office : Ground Floor, Seneca House, Links Point, Amy Johnson Way, Blackpool, Lancashire, FY4 2FF
| Company Reg No : 09533717 | Data Protection No : ZA128717 | VAT No : 211 7550 40 | BVRLA membership No 8160.
360 Vehicle Management Limited T/A 360 Vehicle Leasing and 360VM is an appointed representative of Product Partnerships Limited which is authorised and regulated by the Financial Conduct Authority. Product Partnerships Limited FCA registration number is 626349 and its address is Salts Piazza Offices,Salts Mill, Victoria Road, Saltaire, BD18 3LA. Product Partnerships Limited’s permitted business is to act as a Principal for a network of Appointed Representatives who arrange regulated credit facilities for customers who are purchasing goods from them. 360 Vehicle Management Ltd T/A 360 Vehicle Leasing are members of the British Vehicle Rental and Leasing Association (BVRLA) no 8160, and work to their mandatory code of conduct for brokers.
360 Vehicle Management Limited T/A 360 Vehicle Leasing and 360VM act as a credit broker not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase. We will only introduce you to these lenders. We may receive a commission payment from the finance provider if you decide to enter into an agreement with them. You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations. If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk
Copyright © 2019 360 Vehicle Management Ltd, All rights reserved.