Formula 1 goes to new owners...Liberty Media Corporation

The longtime CEO of the Formula One Group, Bernie Ecclestone, has been in negotiations to sell off his ownership in the sport for sometime now.  After controlling F1 for 40yrs, he will step down once final signatures are written & Liberty Media Corporation will take over.  Chances are Ecclestone will stick around & provide some type of service to the sport even after his status is downgraded.  After all, he was responsible for taking a little known, hobby sport & blowing it up to the world's pinnacle, 400 million viewer, racing sport.

Who is Liberty Media Corporation?  They're a company who has their finger in multiple media honey jars.  From the Atlanta Braves MLB club to Live Nation Entertainment, Inc.  And you know those huge names, Time Warner Inc & Viacom Inc?  Yeah, Liberty Media has investments there too.  So needless to say, they have a history of picking the right companies to get involved with.  Ultimate goal?  Make more money, what else?

With an American owner, I wonder if this will increase Formula 1 popularity inside the US.  Currently we all know NASCAR holds the country's heart when it comes to motorsports.  Maybe this will be the jump start to something big here.  Circuit of the Americas in Austin, TX may even start to see competition as other US states consider building F1 tracks to accommodate the newly acquired sport.  I wouldn't expect that to happen overnight though.  NASCAR fans are HARDCORE!  Majority of them don't see F1 as real competition.  Something about open wheel racing without contact, lack of passing, and the famous post-race burnout done by drivers who take the checkered flag.  I guess we'll see.

 

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