News Details
Liberty Media announces $1bn F1 debt reduction
Despite Formula 1 being on its summer break, new owners Liberty Media’s CEO Chase Carey has surprised everyone when he announced that they had “eliminated an extensive $1bn tier of debt” associated with CVC’s operation of F1. In revealing its interim financial figures for the second quarter of 2017, Liberty Media revealed that F1 registered a three-per-cent increase in revenue, up to $616m (£475m). Operating income fell from $90m (£70m) to $45m (£35m), with sales, general and administrative expenses all increasing by around 33%. The debt repayment was financed by an initial equity offering that generated $388m coupled with subsequent refinancing...
Full Story »
Full Story »
8y ago from MotorsportWeek.com
0
You May Also Be Interested In...
F1 has a ‘5-year-plan’ for United States – Chase...
Chase Carey says he will not rush to set up a second race in the United...
8y ago from ThisIsF1.com
Carey: Increase in F1 viewers, attendance and...
Liberty Media Corporation have released second quarter 2017 financial...
8y ago from GrandPrix247.com
Carey’s salary based on F1’s financial results,...
Formula 1 CEO Chase Carey’s remuneration is heavily tied to the...
8y ago from Motorsport.com
Goal of 2021 engine is 'louder, cheaper, better' says...
Formula 1 boss Chase Carey says the future engine formula must be...
8y ago from MotorsportWeek.com
Elsewhere On The Network
Popular On MGPToday.com
How Raul Fernandez is chasing his next MotoGP contract
No description available...
12h ago from Motorsport.com
No new Yamaha MotoGP engine until after French GP,...
No description available...
1d ago from Motorsport.com
Aprilia on dominant MotoGP start: 'Ducati isn’t...
No description available...
2d ago from Motorsport.com
Davide Tardozzi: Ducati 'slapped in the face' by...
No description available...
3d ago from Motorsport.com
Popular On IndyCarToday.com
Complete IndyCar championship standings after Phoenix
No description available...
3h ago from Motorsport.com
Alex Palou's 100th IndyCar start ends in early crash...
No description available...
6h ago from Motorsport.com
Will Power “ran me into the wall” says Rasmussen...
No description available...
3h ago from Motorsport.com
Josef Newgarden earns thrilling IndyCar win at Phoenix
No description available...
5h ago from Motorsport.com
Popular On TotalWRC.com
Why Hyundai WRC team is "working at 120 per...
No description available...
2d ago from Motorsport.com
Lando Norris samples Toyota rally car alongside Oliver...
No description available...
4d ago from Motorsport.com
Lancia rally legend Sandro Munari passes away aged 85
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Bargain asking price: Liverpool & Arsenal...
Clubs like Liverpool and Arsenal could reportedly be in luck as Real...
8h ago from CaughtOffside.com
Supercomputer predicts unthinkable Tottenham...
The Premier League table has been given a radical shake-up as a...
11h ago from CaughtOffside.com
Ashley Cole makes honest admission when asked if...
Chelsea legend Ashley Cole believes Arsenal can win the quadruple this...
11h ago from SportsKeeda.com
Arsenal looking to reinforce squad with 100m...
Arsenal have stepped up their pursuit of Newcastle United midfielder...
12h ago from SportsKeeda.com
Comments
Hottest News
Australian GP: Piastri out of race after crash on way to...
No description available... Read More »
36m ago from SkySports.com
Australian Grand Prix virtual grid walk: George Russell’s...
George Russell is the nailed-on favorite for... Read More »
1h ago from GrandPrix247.com
F1 News Today: Max Verstappen stunned as FIA announce...
Unseen footage of Max Verstappen's reaction to... Read More »
5h ago from GPFans.com
