Tag Archives: F1

The FIA World Motor Sport Council has formally approved the sale of the F1 business, just a day after Liberty Media’s shareholders agreed that the deal could go through pending the go-ahead from the governing body.

The FIA’s role in the sale has come under some scrutiny as it owns 1% of the business, and as such stands to benefit.

Liberty made a presentation at the WMSC meeting in Geneva today, before the deal was voted through.

A statement today from the FIA said: “The World Motor Sport Council has unanimously approved the change of control of Delta Topco Limited (the holding company of the Formula One Group and thus the owner of the Commercial Rights of the FIA Formula One World Championship) from CVC Capital Partners in favour of Liberty Media Corporation at an extraordinary meeting today in Geneva.

“The transaction will see the transfer of 100% of the shares in Delta Topco to Liberty Media Group, one of the tracking stocks of Liberty Media Corporation.

“During the meeting, the representatives of the prospective new owner made a detailed presentation of their strategy. The members of the World Motor Sport Council then had the opportunity to ask questions about the specifics of the agreement, the ongoing working relationship with the FIA and Liberty’s plans for the sport.

“Liberty, Formula One Group and the FIA intend to collaborate to create a constructive relationship that will ensure the continued success and the development of the FIA Formula One World Championship in the long term.

“The World Motor Sport Council’s decision confirms the FIA’s belief that Liberty, as a renowned media organisation with expertise in both sport and entertainment, is clearly well positioned to ensure the continued development of its pinnacle Championship.

“The FIA holds a one per cent shareholding in Delta Topco. As part of the sale by CVC to Liberty Media Corporation, and in line with the agreements between the FIA and the Formula One Group, the FIA will be dragged along in the sale process under the same conditions as CVC and all the other shareholders.

“The FIA looks forward to working with the new owners of the Formula One Group on further developing the unrivalled global spectacle that is the FIA Formula One World Championship for all stakeholders.”

McLaren boss Eric Boullier admits that McLaren’s main focus in the Singapore race will be on outscoring Toro Rosso, the team’s rival for sixth place in the World Championship.

Sixth would represent respectable progress for McLaren since last year, as well as having obvious financial implications.

McLaren’s improving form and some bad weekends for Toro Rosso allowed the Woking team to move ahead after Spa, with an advantage of 48 to 45 points. However in Singapore Toro Rosso has bounced back and earned sixth and seventh on the grid, while the McLarens will start ninth and 12^th.

“Obviously our focus is on trying to beat Toro Rosso and keep increasing our lead on them in the championship,” said. “They are in front of us, we kind of guess they did a better job for this track layout. I think it’s just a one-off to be honest, but we will do our best tomorrow, and at least have a good start.”

Boullier is confident that McLaren can claw back some points.

“We may expect a bit of tension in the first two rows, and you never know. Maybe with a better strategy we can definitely beat one of them, because they can’t double pit their cars under safety car, for example. So there is plenty of opportunity to not lose points on them, and if possible to keep our lead.”

Team bosses are open to the possibility of accepting Liberty Media’s invitation to acquire shares in the F1 business.

Last week F1’s new owner indicated that it is willing to allow the teams to acquire a stake, although the company did not give any more details on how that process might unfold, or what the timing would be. Until now only Ferrari has held a minority stake.

“I think it’s a sensible thing,” said Red Bull’s Christian Horner. “I think the teams are key stakeholders in F1, without the teams there is no F1. For the teams to take a minority shareholding would make sense, to be offered to all the teams on the same terms would make total sense. I think to keep it for a minority shareholding the teams would be the right thing, because anything beyond that, we’re never going to agree upon. But obviously it does make sense for the teams to be a participant in the shareholding.”

“The idea sounds good,” said Mercedes boss Toto Wolff. “If you are able to align the major stakeholders with a long term vision, and you make the teams shareholders, there are many problems you could solve. But obviously it’s a commercial and financial decision, and the devil lies in the detail.”

“I think it’s a great opportunity,” said Renault’s Cyril Abiteboul. “A lot of value has been derived for the existing shareholders from F1. I think it will be a great thing if F1 teams were able to capture some of that value given the risks that are taken by the different parties who finance the team. So yeah, if it makes sense, I would say clearly why not?”

“Why not?,” said Sauber’s Monisha Kalternborn. “We’ve had these kinds of discussions before. I think it’s an interesting idea. It can make sense to have all times actually given this opportunity and be represented as well. At the end of the day it depends what you get and what the price is.”

Christian Horner says Max Verstappen is comfortable with the outcome of Friday morning’s informal discussion with Charlie Whiting about his defensive moves in Spa.

The Dutchman, who viewed TV footage of Spa with Whiting, has said little about what transpired, although Whiting has indicated that he could have been given a black and white warning flag.

“I think he’s happy with where he’s at, what he’s seen,” said Horner. He’s only 18, he’s in his third year of car racing, and he’s learning all the time. He hasn’t picked up a single penalty yet. We only deal with facts, not ifs and buts.”

Horner suggested that Verstappen was frustrated because Raikkonen had delayed handing back the place after he’d gone off track the previous lap.

“What I hadn’t appreciated was there was a bit going on the previous lap as well, where he was expecting the place to be given back earlier [by Raikkonen], and of course that all contributes to the robust defence.”

Meanwhile Horner concedes that this weekend in Monza will be about damage limitation for Red Bull.

“We expected coming here that of all the tracks on the calendar it was probably going to be our biggest challenge. It’s actually been a respectable Friday, we’ve got data from all three compounds, so plenty to look at tonight. Let’s see tomorrow. I’d say we’re about where we expected to be at the moment.

“The likelihood is that Mercedes and Ferrari will be ahead here, so we obviously have to try and limit the damage. That is what this weekend is all about before some circuits come up that hopefully suit us a bit better.”