US firm Liberty Media buying Formula One motorsport series

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US firm Liberty Media buying Formula One motorsport series 
ROB HARRIS, AP Sports Writer

 

LONDON (AP) — Formula One is being bought by Liberty Media, a U.S. company that invests in entertainment and sports, in a takeover valuing the motorsport series at $8 billion.

 

Liberty Media, which is controlled by 75-year-old tycoon John Malone, has ended years of uncertainty about the ownership of the sport with Wednesday's deal .

 

The transition is due to be overseen by F1 CEO Bernie Ecclestone, who told The Associated Press that he will retain his role as the sport enters a new era.

 

Liberty Media will be renamed Formula One Group after the deal is complete, which is expected by March 2017.

 

F1's biggest shareholder is investment fund CVC Capital Partners.

 

-- © Associated Press 2016-09-08

[natway09]

Not sure we can trust the Americans to run this as it should be run.

Any thoughts F 1 buffs?

[bangkokheat]

7 hours ago, natway09 said:

Not sure we can trust the Americans to run this as it should be run.

Any thoughts F 1 buffs?

my thoughts are bernie should retire, he has taken the gloss out of F1 get rid of bernie, bring back the noise and fuel stops, then F1 will turn back into a real race, F1 in my opinion has become like a drama movie, bring back the action

[khundon]

They will take out all the corners, jack up one side of the cars and only people named Billy Bubb will be allowed to drive.

 

Seriously, F1 has become a sham and the only winners are teams with million of funding, with Merc at the top of the pile.

Go back to the days of Mansell, then we could see some exiting races. Have one car per team and let the drivers race.

As it is now, it's bloody boring.