Teams should not dismiss F1 stake offer - Wolff

40

Mercedes boss Toto Wolff believes Liberty Media's offer to teams to acquire a stake in the sport should not be dismissed without proper consideration.

In a move to encourage teams to have a vested interest in Formula 1, Liberty Media has set aside an allocation of shares in its publicly traded entity (worth about $400 million), destined to be offered to the sport's teams at a discount from the stock's quoted price.

"This is an idea which one shouldn't dismiss easily," Wolff, a shareholder and team boss of world champions Mercedes, told Austrian magazine Trend.

"But in any case one must know more about the business case and our role in the whole (project). Talks about this have only just begun and will probably last over the coming months."

F1 share deal with Liberty still on the table

A potentially cloudy point that Mercedes and its peers may want Liberty to clear up is what exactly they would own as shareholders of the Formula One Group (FWONK) entity.

FWONK - a somewhat unfortunate ticker at first glance - is a tracking stock destined to reflect the operating performance of Formula 1. But it does not own any assets.

Formula 1's commercial rights are actually owned by Formula One Group's parent company, Liberty Media Corporation. Still more questions than answers thus...

GALLERY: F1 drivers' wives and girlfriends

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.