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What is Formula One Promotions and Administration mean?
The Formula One Group is a group of companies responsible for the promotion of the FIA Formula One World Championship, and the exercising of the sport's commercial rights.
The Group was previously owned by Delta Topco, a Jersey-based company owned primarily by investment companies CVC Capital Partners, Waddell & Reed, and LBI Group, with the remaining ownership split between Bernie Ecclestone, other investment companies, and company directors. It was bought by Liberty Media in 2017.
Ecclestone, a former Formula One team boss, spent 40 years as chief executive of the company after gaining control of the commercial rights. As of January 2021, the group is run by Stefano Domenicali as president and chief executive officer. Ross Brawn is managing director of motor sports, and Chase Carey, who previously ran the group from 2017 to 2020, is non-executive chairman.
referencePosted on 24 Sep 2024, this text provides information on Miscellaneous in Sports related to Sports. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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