The news was confirmed yesterday afternoon that Liberty Global, a telecommunications company born from the merger of Liberty Media and UnitedGlobalCom, has acquired a 65% controlling stake in Formula E, thus becoming the majority shareholder of the championship, surpassing Warner Bros.
It is important to note, as reported by Motorsport, that this operation is independent of Liberty Media’s ownership of Formula 1 and the future planned control of Dorna Sports, which manages MotoGP and the Superbike World Championship.
Jeff Dodds, CEO of Formula E, emphasized that investments from the new ownership will focus on vehicle technology, the expanding calendar, and series promotion: “The key growth areas have been vehicle technology, the leap between generation 3.5 and 4 is significant, and it’s just two and a half years away. It will be an incredible race car.”
“The second area concerns the venues where we race, where we bring our show, and how we aim to attract a new audience. This week we announced our 2024-25 calendar, which is the longest ever, and as motorsport fans, I hope you can appreciate that there are some iconic and bold choices.”
“The third aspect concerns marketing, and we want to make the championship known to as many people as possible, which currently has a fanbase of around 400 million people. We are on the verge of unlocking this exponential growth. For this reason, having a committed investor like Liberty Global supporting us at a time when we are increasing our presence, investing in technology, and also in the next generation is absolutely crucial.”
“This is a crucial moment for Formula E. Like any sports platform, it needs capital and conviction,” added Liberty Global CEO Mike Fries. “And we are absolutely determined to provide both at this critical time.”
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