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Liberty Media urges teams to buy into Formula 1

Liberty Media urges teams to buy into Formula 1

Liberty Media urges teams to buy into Formula 1

New F1 owner Liberty Media has urged the teams to buy into the sport.

Earlier this week, we reported that because the share offer would not include actual voting rights on important decisions, the teams were not keen.

Nonetheless, Liberty has announced that it has reserved shares “for issuance to the F1 teams at a per share purchase price of $21.26”.

Liberty CEO Greg Maffei said: “We think it’s important to offer the teams the chance to invest in F1 and further align our interests.”

And new F1 chairman Chase Carey added: “Several of the teams have expressed interest in investing and we have already begun productive discussions to make the sport more competitive and even more exciting.”

But while Liberty is extending an olive branch to the teams, much less certain is the future of the long-time F1 supremo Bernie Ecclestone.

We have reported that the 86-year-old appears left out of Liberty’s plans, and Ecclestone has now told the Press Association news agency that he is not sure if he will continue.

“It is not a case of my terms, it is a case of let’s have a look and see which way they would like to go,” he said.

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