Regupol Australia Pty Ltd offers a comprehensive range of recycled rubber fitness and leisure flooring surfaces. Their range of products include everroll rubber flooring, Regupol elastic…read more
US-based media interests confirm US$4.4 billion acquisition of Formula 1
Marking one of the biggest deals in sport history, US-based Liberty Media has confirmed it is buying the Formula 1 motor racing series for US$4.4 billion.
Owned by the billionaire John Malone, Liberty will initially purchase a minority stake in the world's leading motor-racing championship with a full takeover planned if regulators approve the deal.
The acquisition ends several years of speculation about the sale of Formula 1, with the new owners aiming to further develop the sport.
F1’s 85-year-old figurehead Bernie Ecclestone will remain the Chief Executive but will now report to a new Chairman, Chase Carey, the Executive Vice Chairman of Rupert Murdoch’s entertainment conglomerate 21st Century Fox.
Liberty Media has stakes in several sports and entertainment businesses, including the Atlanta Braves Major League Baseball club and will look to maximise returns from the sport from its hundreds of millions of fans worldwide.
Under Ecclestone - and the last decade of ownership by private equity group CVC - the motorsport series has enjoyed remarkable growth in terms of global popularity, profits and new races.
Liberty Media will hope to build on these strengths, helping the sport gain new fans, especially in the Americas, and to capitalise on new opportunities around marketing, promotion, digital rights and social media.
However, assuming European regulators approve the takeover, there are issues that the new US owners will need to address - the decline in appeal among younger audiences in an ultra-competitive sporting landscape, the rising costs to teams, fans and circuits, and the predictability of races.
Commenting on the acquisition, Liberty Media Chief Executive Greg Maffei stated “we are excited to become part of Formula One.
"We think our long-term perspective and expertise with media and sports assets will allow us to be good stewards of Formula One and benefit fans, teams and our shareholders."
Ecclestone has advised that he had been asked to stay on at F1 for three more years.
In July, sports entertainment property UFC was sold for a reported US$4 billion.
Image: Formula 1's Singapore Grand Prix.
11th July 2016 - CONSORTIUM BUYS UFC FOR US$4 BILLION
17th March 2016 - REPUCOM RELEASES 2016 F1 SPONSORSHIP REPORT
27th November 2015 - YAS MARINA CIRCUIT TECHNOLOGY BENEFITS F1 DRIVERS, MEDIA AND FANS
5th July 2015 - GLOBAL SURVEY SHOWS F1 FANS WANT RETURN TO BASICS
20th November 2014 - VIRGIN ACTIVE OPENS LATEST AUSTRALIAN CLUB
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
Solar Pool Heating & Swimming Pool Covers since 1974. Sunbather offer an Australian made product which undergoes continual development to enable you to trust in the Sunbather brand. We deliver a…read more
Leisure Concepts brings the world’s leading fitness equipment brands to Australasia - these include True Fitness, Atlantis Strength, Merrithew (Stott Pilates), Intenza Fitness,…read more
Founded in 1961, Myrtha Pools® quickly became Italy’s première swimming pool company, and has since grown into one of the world's leading swimming pool construction…read more
Digonex is a leading provider of customised dynamic pricing solutions to clients in arts and entertainment, sport, attractions, cultural institutions and retail sectors. Digonex’s technology is…read more
As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd. Click here to view the VIVATICKET Pty Ltd listing. 19th July 2018 - ENTA…read more
JonasLeisure offers a complete range of leading leisure and recreation software brands – envibe, Centaman, Gladstone Health & Leisure, The Retention People, Nutrition Complete and…read more
revolutioniseSPORT is the emerging market leader in online club management in Australia. Whether it is memberships, registrations, events, online sales or governance tools - revolutioniseSPORT is the…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!