on 17 January, the shareholders of Liberty Media will meet to vote on how to move forward on its planned purchase of the Formula 1, as well as its new corporate identity. This meeting is one of the last obstacles that the consortium must go through to make effective the transaction. The second will be the approval of the FIA to the totality of the operation.
The maximum body of world motor racing has already begun the preparations, and has summoned a extraordinary meeting of the World Council of Motor for the January 18, , just a day after the vote in Liberty Media. In it, he discussed the terms of the agreement, and will serve as the basis for the FIA can give via verde in the future to the operation. This meeting will occur as well a day after the scheduled between the Strategy Group in Formula 1 and the Commission of the Formula 1, in which they will discuss future regulation changes.
previously, Liberty Media received the approval of the entities antitrust the past month of December, after which it was specified that “the closing of the acquisition is subject to the approval of the shareholders of Liberty Media (…) and the approval of the FIA”, and stood the closing of this procurement in the “first quarter of 2017”.
Liberty Media currently owns the 19.1% of the shares of the Formula 1, and invest a sum of 1,550 million us dollars (1.460 million euros) to gain an additional percentage of the shareholders, and thus increase their control over the company.