Liberty Media's reign over Formula 1 has been far from overwhelmingly positive, but could it soon be coming to an end? A report on johnwallstreet.com has suggested that F1's American owners may be looking to bail out of its revamp of the sport, with former overlord Bernie Ecclestone potentially the one to benefit!
Liberty completed a buyout of F1 in 2017, paying $8billion to acquire the worlds oldest and most prestigious racing series.
Promises of bringing better financial management and boosting the fan experience followed, but introductions made on Liberty's watch have not been universally welcomed.
Removing grid girls, aggressively pursuing a street race in Miami while uncertainty remains over historic venues like Monza and Silverstone, and a bungled introduction of streaming service F1 TV have all led to Liberty catching flak.
Positive moves have been made to open up the sport to fans on social media, while moves have been made to improve the on-track spectacle with new aerodynamic changes in 2019 – although it remains to be seen if they will work as planned.
It is claimed on johnwallstreet.com that Liberty could consider both a complete withdrawal from F1 by selling up all shares, as well as bringing on board investors to reduce the overall stake held.
GPFans has contacted Liberty Media for comment.
Ecclestone ran F1 for the better part of 30 years and has taken several barbs at Liberty after being removed from his role as chief executive amid the American company's takeover two years ago.
The 88-year-old was placed into a 'chairman emeritus' role, although it is widely reported that his influenced was diminished almost entirely.
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