Liberty Media to flog off F1?
Clearly, it isn’t particularly easy running an enormous globe-spanning motor racing championship. Even a multiheaded conglomerate such as Liberty Media, which purchased the rights to Formula 1 in 2016, has found it to be a bothersome business.
How do we know this? Rumours are circulating that the American company is considering selling F1 on, only three years after purchasing it from cartoonish ex-overlord, Bernie Ecclestone.
A prominent US sports blogger claims that Liberty’s appointed F1 boss, Chase Carey, is considering a “change in direction” after several setbacks.
These include the failure to secure a second US located round of the championship (namely the much-touted Miami GP), which is seen as instrumental in further developing interest in Formula 1 in the United States. Digital revenue has been disappointing and Liberty’s desire for a major banner sponsor has yet to bear fruit, also.
And who does this blogger claim will be the most interested in taking Formula 1 off Liberty Media’s hands? Why, Bernie Ecclestone, of course.
With the capital, the knowhow and the apparent ability — despite his advancing years — to bash heads in the boardroom, everyone’s favourite villainous tycoon could be well-placed to grab the series rights back. And probably for significantly less than the US $8b Liberty Media paid him for it in 2016. As another cartoon tycoon with villainous intent might say: “Eee excellent.”