Liberty Media eyes acquisition in motorsports sector to boost F1; IndyCar, Formula E tipped as targets - report
Liberty Media [Nasdaq:LMCA] is weighing the acquisition of another motorsports business to bolster its UK-based Formula One (F1) operation, The Daily Telegraph reported. Greg Maffei, chief executive of Liberty, said the Englewood, Colorado-headquartered company, could be interested in appropriately priced deals which might give F1 a foothold in other motor sports.
The CEO said it would be logical to start with motor sports where the company has synergies, but emerging sports might also be an option. He added that the acquisition of a basketball team or similar traditional sports in the USA was unlikely. The report noted that Liberty owns a stake in the US baseball team, the Atlanta Braves.
The report named the family-run US-based F1 rival IndyCar and UK-headquartered Formula E as potential targets for F1. Formula E is an electric autoracing series in which Liberty Global (chaired by Liberty Media chairman John Malone) owns a minority interest, the report noted.
The original report appeared in The Daily Telegraph, Business section, page 3