John Malone’s Liberty Media buys first slug of Formula One and agrees to pay $4.4bn in total September 8, 2016 Liberty Media has bought a minority stake in Formula One in an agreement that will ultimately see the US media-giant take ownership of the company that runs the sport. Controlling shareholder CVC Capital Partners announced overnight the sale of an 18.7 per cent stake in the business for $821m. This is the prelude to a deal that will [...]
Silverstone boss Paul Allen confirms his departure but denies allegations over Lawrence Tomlinson bid September 6, 2016 The British Racing Drivers' Club (BRDC) has confirmed a City A.M. report last month that a senior executive at the iconic Silverstone motor racing circuit has stepped down. The BDRC said today it had agreed with Patrick Allen, the managing director of Silverstone, it was "time to put a permanent management team in place". Read more: The Abarth 124 Spider is [...]
American Formula One takeover edges closer but subject to European Commission sign-off September 4, 2016 The eagerly-anticipated sale of Formula One to Liberty Media will need to navigate a series of tight chicanes including potential scrutiny by the European Commission (EC). Private equity fund CVC is putting the final touches to a $9.1bn (£6.8bn) deal that will see the American media giant take full control of Formula One . Fox media mogul Chase [...]
Reigning champion Lewis Hamilton at a loss to explain poor start as rival Nico Rosberg cuts his title lead with victory at Monza September 4, 2016 Britain's Lewis Hamilton struggled to explain his calamitous start to the Italian Grand Prix which ruined any chance of a 50th career win and ultimately saw his championship lead cut by rival Nico Rosberg. Following an emphatic performance in qualifying on Saturday which had resulted him take pole, the world champion looked set to secure his [...]
Liberty Media could zoom into pole position on Formula One deal with £6.4bn bid August 25, 2016 Liberty Media has become the latest company to throw its hat into the ring for the controlling stake of Formula One (F1) with a $8.5bn (£6.4bn) bid. The controlling stake in F1's parent company is currently owned by CVC Capital Partners, which has a 35 per cent stake and has held its position since 2006. According to Sky News, [...]
Silverstone boss Patrick Allen ousted for being “too close” to tycoon plotting takeover August 9, 2016 The home of Formula One’s British Grand Prix has been thrown into turmoil by the unexpected departure of its boss Patrick Allen who has been suspended. Allen is managing director of the Silverstone track in Northamptonshire and was seen there last month at the British Grand Prix when 139,000 spectators watched local hero Lewis Hamilton [...]
Lewis Hamilton in no mood to revel in championship lead despite dominating German Grand Prix to stretch advantage to 19 points July 31, 2016 Britain's Lewis Hamilton refused to indulge in a 19-point championship lead despite boosting his hopes of a third consecutive world title with victory at the German Grand Prix. The 31-year-old dominated in Hockenheim to post his sixth win in seven races as Mercedes team-mate and rival Nico Rosberg, who finished fourth, endured a torrid home [...]
Tensions rise between Lewis Hamilton and Nico Rosberg as Briton hits title summit with record-breaking victory at Hungarian Grand Prix July 24, 2016 Tensions sizzled between rivals Lewis Hamilton and Nico Rosberg after the Briton claimed a record-breaking fifth victory at the Hungarian Grand Prix to hit the summit of the drivers’ championship for the first time this season. Reigning champion Hamilton is now six points clear of Mercedes team-mate Rosberg at the top of the standings, having overtaken [...]
Lewis Hamilton crowd-surfs after equalling Nigel Mansell’s British Grand Prix record July 10, 2016 Stage-diving Lewis Hamilton celebrated by surfing an adoring Silverstone crowd after he claimed a record-equalling fourth victory at the British Grand Prix. Hamilton mastered a tricky wet start followed by a drying track to equal Nigel Mansell’s haul of wins on home soil and cut title rival Nico Rosberg’s lead in the drivers’ standings to [...]
Lewis Hamilton shrugs off Mercedes threat as team give warring drivers green light to battle at Silverstone July 7, 2016 World champion Lewis Hamilton has welcomed Mercedes’ decision not to impose team orders preventing him from racing freely against team-mate Nico Rosberg at this weekend’s British Grand Prix. The fierce title rivals clashed for a third time in five races in Austria on Sunday when Rosberg was penalised for forcing Hamilton off the track – [...]