Teams to get opportunity to invest in F1 after takeover

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F1 teams will have the opportunity to invest in the sport following a takeover by Liberty Media, the new owners have confirmed.

Liberty Media announced on Wednesday evening it has agreed a deal to purchase F1 which values the sport at $8bn (£6bn). While Bernie Ecclestone has been retained as CEO, F1 will have a new chairman in the form of Chase Carey, and it has also been confirmed the teams will receive the opportunity to invest in the sport.

CONFRIMED: Liberty Media agrees to purchase F1

"The Teams will be given the opportunity to participate in the investment in Formula One, and the detailed terms of that investment will be agreed in due course," a statement from Liberty Media read. "Certain teams have already expressed an interest in investing after completion of the acquisition."

At present the teams do not have a shareholding in F1 but do have a say on its regulations through the Strategy Group and F1 Commission.

Liberty Media have also confirmed the takeover of F1 is subject to "certain third-party consents and approvals, including that of the Fédération Internationale de l'Automobile (FIA), the governing body of Formula One", with the FIA holding a 1% stake in the sport.

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Andrew Lewin

Andrew first became a fan of Formula 1 during the time when Michael Schumacher and Damon Hill were stepping into the limelight after the era of Alain Prost, Nigel Mansell and Aryton Senna. He's been addicted ever since, and has been writing about the sport now for nearly a quarter of a century for a number of online news sites. He's also written professionally about GP2 (now Formula 2), GP3, IndyCar, World Rally Championship, MotoGP and NASCAR. In his other professional life, Andrew is a freelance writer, social media consultant, web developer/programmer, and digital specialist in the fields of accessibility, usability, IA, online communities and public sector procurement. He worked for many years in magazine production at Bauer Media, and for over a decade he was part of the digital media team at the UK government's communications department. Born and raised in Essex, Andrew currently lives and works in south-west London.