Chase Carey Tag

By Joey Barnes, Editor-in-Chief The Dutch Grand Prix is back on the Formula 1 calendar after a 35-year absence with a return to Zandvoort beginning in 2020. A three-year deal was put together due to partnerships with SportVibes, TIG Sports and the Circuit Zandvoort. Additionally, longstanding Formula 1 partner Heineken will hold rights as the title sponsor for the event May event. “We are particularly pleased to announce that Formula 1 is returning to race in the Netherlands, at the Zandvoort track,” said Chase Carey, CEO of Formula 1. “FromRead More

By Adam Tate, Associate Editor Bernie Ecclestone is no longer the chief executive officer of Formula One. His four decade reign atop the sport has come to an end, confirmed by Liberty Media naming Chase Carey as his replacement. Ecclestone who saw the writing on the wall, stepped down graciously and released the following statement. “I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula One, and would like to thank all of the promoters, teams, sponsors and television companiesRead More

By Adam Tate, Associate Editor A day after Liberty Media’s shareholders approved the plan to purchase the remaining shares of Formula One from CVC Capital Partners, the World Motor Sport Council and the FIA have approved the sale in full during their meeting today in Geneva. Liberty Media representatives held a special presentation on their plans for F1 with the WMSC representatives and participated in a Q&A session before the deal was unanimously approved. The FIA released the following statement on the historic deal. “The World Motor Sport Council has unanimouslyRead More

By Adam Tate, Associate Editor Liberty Media has announced an agreement with third party investors to raise $1.55 billion dollars in order to move forward with their plan to purchase Formula One from CVC Capital Partners. They are raising the funds through newly issues shares of their stock with the price set at $25 per share. The official release from Liberty is strewn with legal jargon, but the basic gist is that the capital raised from selling the shares will ensure the initial deal they signed with CVC for a fullRead More