{"id":1604,"date":"2023-10-30T08:18:14","date_gmt":"2023-10-30T08:18:14","guid":{"rendered":"https:\/\/pitlane.news\/?p=1604"},"modified":"2023-10-30T08:18:19","modified_gmt":"2023-10-30T08:18:19","slug":"who-are-the-formula-1-owners","status":"publish","type":"post","link":"https:\/\/pitlane.news\/who-are-the-formula-1-owners\/","title":{"rendered":"Who are The Formula 1 Owners?"},"content":{"rendered":"\n<p>The realm of Formula 1 has witnessed transformative changes in ownership in the past few years, marking the end of Bernie Ecclestone\u2019s influential era. The present custodians of the <a href=\"https:\/\/www.formula1.com\/en.html\" target=\"_blank\" rel=\"noopener\">Formula 1<\/a> World Championship have propelled the sport to incredible heights, rendering it one of the globe\u2019s most celebrated sports series, and this is manifestly reflected in the booming stock prices of Liberty Media\u2019s Formula 1 Group (FWONK), which have soared dramatically since 2016.<\/p>\n\n\n\n<p>Delving into the ownership dynamics, the Formula One Group, affiliated with Liberty Media Corporation, oversees the commercial facets of the sport, while the FIA (F\u00e9d\u00e9ration Internationale de l&#8217;Automobile) retains ownership over the sport&#8217;s regulatory and organizational elements. The FIA is instrumental in upholding the sport\u2019s integrity, framing rules, and ensuring the adherence to established standards.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.libertymedia.com\/\" target=\"_blank\" rel=\"noopener\">Liberty Media Corporation<\/a>, steered by billionaire John C. Malone, has played a pivotal role in redefining the commercial landscape of F1. This American media conglomerate acquired the commercial rights from CVC Capital Partners in a landmark deal in 2016, signaling a paradigm shift in the sport\u2019s commercial trajectory. Post-acquisition, significant leadership changes were instituted, including the appointment of Stefano Domenicali, a former Ferrari team principal, as the CEO, succeeding Chase Carey and Bernie Ecclestone.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"1024\" data-src=\"https:\/\/pitlane.news\/wp-content\/uploads\/2023\/10\/image-27-1024x1024.png\" alt=\"\" class=\"wp-image-1607 lazyload\" style=\"aspect-ratio:1;width:391px;height:auto\" data-srcset=\"https:\/\/pitlane.news\/wp-content\/uploads\/2023\/10\/image-27-980x980.png 980w, https:\/\/pitlane.news\/wp-content\/uploads\/2023\/10\/image-27-480x480.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" \/><noscript><img decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/pitlane.news\/wp-content\/uploads\/2023\/10\/image-27-1024x1024.png\" alt=\"\" class=\"wp-image-1607\" style=\"aspect-ratio:1;width:391px;height:auto\" srcset=\"https:\/\/pitlane.news\/wp-content\/uploads\/2023\/10\/image-27-980x980.png 980w, https:\/\/pitlane.news\/wp-content\/uploads\/2023\/10\/image-27-480x480.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/noscript><\/figure>\n\n\n\n<p>Liberty Media\u2019s transformative strategies have been instrumental in revitalizing F1\u2019s global appeal. A series of innovative initiatives, ranging from rebranding endeavors like logo redesign to the inception of the captivating \u2018Drive to Survive\u2019 Netflix series, have significantly augmented the sport\u2019s global fanbase and digital presence. The judicious implementation of these strategies has been integral to attracting a younger audience and enhancing the sport\u2019s digital footprint through platforms like F1 TV.<\/p>\n\n\n\n<p>Moving forward, Liberty Media envisions a flourishing future for F1, particularly emphasizing expanding its footprint in the United States. They have innovatively enhanced the F1 schedule, incorporating new racing spectacles like the Miami and Las Vegas Grand Prix. Moreover, Liberty Media\u2019s progressive vision anticipates a potential expansion of the racing calendar, aligning with the surging global interest, while maintaining a steadfast commitment to preserving the sport\u2019s authenticity and competitive integrity.<\/p>\n\n\n\n<p>Looking ahead to 2026, anticipation is building around the unveiling of new regulations governing power units in F1, indicating the continuation of the sport\u2019s evolution under the stewardship of Liberty Media, which remains passionately dedicated to nurturing talent and steering F1 towards unprecedented horizons of success and global admiration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The realm of Formula 1 has witnessed transformative changes in ownership in the past few years, marking the end of Bernie Ecclestone\u2019s influential era. The present custodians of the Formula 1 World Championship have propelled the sport to incredible heights, rendering it one of the globe\u2019s most celebrated sports series, and this is manifestly reflected [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[21],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/posts\/1604"}],"collection":[{"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/comments?post=1604"}],"version-history":[{"count":1,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/posts\/1604\/revisions"}],"predecessor-version":[{"id":1608,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/posts\/1604\/revisions\/1608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/media?parent=1604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/categories?post=1604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pitlane.news\/wp-json\/wp\/v2\/tags?post=1604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}