Liberty Media rubishes "F1 for sale" rumours

Liberty Media have denied the claims that they're willing to sell stock in Formula 1, as they claimed the reports shouldn't be taken seriously when asked to respond to the rumours.

Earlier, John Wall Street reported Liberty Global would be willing to let go of some of their shares in F1 just three years after initially acquiring the major stake. 

"Less than 3 years after Liberty Global acquired Formula One, the company is reportedly exploring scenarios that would decrease their stake in the international racing circuit; everything from an exit to the introduction of new equity partners in on the table," the report reads.

"Liberty has failed to add races (see: Miami) and/or major sponsors, attract younger fans (fact: just 14% are < 25 years old) or drive digital revenues (.06% of total revenue in ‘18); issues that collectively indicate the C-suite is in over their heads and taking direction from the wrong places.

"Keep an eye on former owner Bernie Ecclestone, the British business magnate has the capital, know-how and can likely reclaim the asset back for a fraction of the $8 billion he sold it for."

F1 Media, when asked to comment by GrandPrix247, pointed out a serious flaw in the report;

“Formula 1 is controlled by Liberty Media not Liberty Global…” and therefore it shouldn't warrant "serious consideration".

That's that, then. The report seems to be debunked, as Liberty Media continue their quest for improving F1 as a product for consumers.