When all of you Formula One racing fans begin to see Liberty Media banners prominently splashed all over the tracks, the stands and just about anywhere else where space can be found, realise that it is the result of a Colorado based cable television supplier purchasing the company that currently controls the F1 series in a $4.4 billion USD deal.
Liberty Media Corporation will immediately have an 18.7 percent stake in Formula One parent corporation Delta Topco and will subsequently take full ownership.
The corporate contortions that will take place as a result of the deal provide interesting reading in themselves, so long as you are some sort of masochist hankering for financial dealings.
The summary of the deal is that Liberty Media is attempting to secure popular programming when traditional TV vendors face threats from the digital media world. Broadcasters and advertisers lust for sports programming such as Formula One due to the large live audiences that represent demographics from around the world.
Despite Formula One’s popularity all over the world, it has struggled to, ahem, gain traction in the U.S. Yank racing fans do like their racing, and they understand high straightaway speeds and left turns, but when they see a car turning right, they inevitably become confused and think that something must have gone amiss.
The current head man, Bernie Ecclestone, will remain in charge, but hopefully there will be an infusion of funds that will permit Red Bull Racing to buy competitive cars for Daniel Ricciardo and Max Verstappen.
