Chase Carey Tag

By Luis Torres, Staff Writer The latest batch of updates on the 2020 Formula One World Championship calendar were announced Friday with the addition of three new venues while also losing its four events on the Americas region. The three confirmed sites being added marks the return of the Nurburgring and Imola to the F1 calendar and a first-time visit to Portimao in Portugal. After a seven-year absence, the Nurburgring will be hosting the Eifel Grand Prix for the first time on October 9-11, two weeks after the Russian Grand PrixRead More

By FIA The promoter of the FIA Formula 1 French Grand Prix has acknowledged that the 2020 edition of the event cannot take place following the instructions of the French government. The full statement can be found below: The Formula 1 Grand Prix de France takes note of the impossibility to maintain its event Following the declarations of the French President to ban major events until at least the middle of July, to keep the Schengen area closed until further notice and the recent decisions announced by the French GovernmentRead More

By Luis Torres, Staff Writer Once again, the health crisis provides more discouraging news in the world of Formula One as the FIA announced Tuesday that the Canadian Grand Prix, scheduled to take place June 14, 2020, has been postponed. What was meant to be a record-high 22 rounds last month has now been heavily reduced to just 13 rounds due to the current COIVD-19 pandemic. As of April 7, 2020, the season opener is now the critically unpopular French Grand Prix at Circuit Paul Ricard June 28. Despite the postponement,Read More

By Luis Torres, Staff Writer Formula One’s wild card race known as the Azerbaijan Grand Prix in Baku becomes the latest grand prix weekend postponed due to the COVID-19 crisis. Both the FIA and the Government of the Azerbaijan Republic confirmed Monday the grand prix weekend once slated to commence June 5-7 will not take place. They’ve set their eyes on rescheduling the 3.730-mile street circuit at a later date. In their statement, their decision was entirely based on expert guidance that was provided by relevant authorities. “BCC shares its fansRead More

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