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Liberty Media urges teams to have a vested interest in F1
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Liberty Media, or the Formula One Group as we should now call it, is urging teams to invest in the sport despite their apparent reluctance to do so. The company has set aside $400 million worth of shares, offered to the teams at a price of $21.26 which represents almost a 25 percent discount to Thursday's closing stock price of Liberty Media in New York . "We think it's important to offer the teams the chance to invest in F1 and further align our interests," said Greg Maffei, Liberty's President and CEO. "We look forward to working with the teams to increase the appeal of this iconic sport and enhance the F1 business." Teams turn down Liberty offer to buy shares...
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