The news came yesterday afternoon that Liberty Globala telecommunications company formed by the merger of Liberty Media and UnitedGlobalCom, acquired control of 65% of Formula Ethus becoming the majority shareholder of the championship and bypassing Warner Bross.
However, it must be underlined, as also reported by Motorsportsthat the transaction is independent of Liberty Media’s ownership of Formula 1 and the expected future control of Dorna Sports, which manages MotoGP and the Superbike World Championship.
The words of the protagonists
Jeff DoddsCEO of Formula E, underlined that investments also coming from the new ownership will focus on the technology of the cars, the expanding calendar and the promotion of the series: “The key areas of growth have been the technology of the car, the leap between generation 3.5 and 4 is significant, and with only two and a half years to go, it will be an incredible race car.”
“The second area is where we race, where we take our show and how we aim to attract new audiences. This week we announced our 2024-25 calendar, which is our longest ever, and as motorsport fans I hope you can appreciate that there are some iconic and bold choices.”
“The third aspect concerns marketing, and we want to make as many people as possible aware of the championship which today has a fan base of around 400 million people. We are on the verge of unlocking this exponential growth. For this reason, having such a convinced investor like Liberty Global supporting us at a time when we are increasing our presence, investing in technology and also in the future generation is absolutely fundamental.”
“This is a crucial moment for Formula E. Like any sporting platform it needs capital and conviction”added Liberty Global CEO Mike Fries. “And we are fully intent on providing both at this critical time.”
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