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CVC will retain large stake in F1 following Liberty Media takeover
Liberty Media announced on Wednesday that it would complete a deal to takeover Formula 1 from a 'consortium of sellers led by CVC' - the sport's current majority owner - which would give it a majority stake and therefore control of the sport. Some have praised the deal as it breaks ties with current owner CVC which, despite having owned the sport since 2006, has done very little to increase Formula 1's appeal, instead choosing to suck as much profit out of it as possible, which is of course the aim of an investment fund. Now Liberty Media, a company which has stakes in sports teams and media companies, has come along with the promise of investing in the sport to grow its...
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8y ago from GrandPrixTimes.com
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