Liberty Media announces a new step in its purchase of the F1


Liberty Media has announced the agreement reached with the new investors to employ 1.550 million dollars in the purchase of the Formula 1. The past month of September, the business group became a shareholder of the F1 and plans to complete its acquisition progressively.

The parties have reached the agreement are Coatue Management, L. L. C., D. E. Shaw group, JANA Partners LLC, Ruane, Cunniff & Goldfarb Inc., Soroban Capital Partners LP, SPO Advisory Corp. and Viking Global Investors LP.

in this respect, Greg Maffei, President and Ceo of Liberty Media, has commented that “we are excited about this impressive list of investors that will participate in the acquisition of the Formula 1. This group shares our enthusiasm for the sport and our belief in the opportunity to develop it and make it grow for the benefit of the fans, teams, sponsors and our shareholders. We expect to close the transaction in early 2017”.

on the other hand Chase Carey, President of the Formula 1, said that “it is a significant step in the acquisition of Liberty Media and the confirmation that the sport’s future is bright”.