Liberty Global, the American owner of Formula 1, has expanded its territory further. After Formula 1 and MotoGP, Formula E is also falling into the company’s hands. Liberty is taking over the shares from Warner Bros, thereby owning a total of 65 percent of all shares. The acquisition is expected to be completed by the end of this year.
Formula E CEO Jeff Dodds expresses full confidence in a successful collaboration with the new majority shareholder. “I have worked with the Liberty team over the past decade. I am very pleased that I can now benefit even more from their expertise and capabilities. Liberty has an excellent track record of building and growing companies. Their investments come at the right time, as we are planning to grow exponentially in the coming period. This acquisition shows how great the potential of our sport is.”
Liberty has been a shareholder in Formula E for ten years, according to CEO Mike Fries. In his view, the electric racing class has a ‘gigantic growth potential’, not least because of ‘the most advanced sustainability standards in the sport’.
