Liberty Media

“So in September of 2016, it finally gets announced that the American media company Liberty Media is acquiring F-One for 4.4 billion dollars of equity value and assuming all of the outstanding debt that the company has for a combined total enterprise value of e…”

“A lot of the low hanging fruit that was available for Liberty to do is levers that they have pulled. So everything from here is going to be a little bit more of like a multi-decade slog than some easy, quick fixes.”

“I mean, when Liberty came in, there was so much mistrust with the race promoters that other than the just straight economic fee payments, none of the races shared. Anything with F one, the league. So no data on fan attendance, no marketing strategies, nothing.”

“Right after Liberty takes over in 2017, they do a deal with ESPN, much like Bernie's original European Broadcasting Union deal. Liberty says, will you please show all of the F-one races on the calendar on ESPN? We will give it to you for zero dollars.”

“Liberty bought in 2017 the company for eight billion with 4.4 billion of that being equity value. Today in 2026 it is a market cap of twenty two billion with an enterprise value of twenty five billion.”

“This continued until Liberty takes over in 2017. He had a few lawyers and finance people to make it all function, but there was no marketing department for F-one. There was no Research or data department. There was no sales department besides Bernie.”