Mar.13 (GMM) Liberty Media bosses admit they thought it would be easier to attract sponsors to F1.
Chase Carey, the new CEO, and Liberty chief Greg Maffei took over from Bernie Ecclestone believing they would quickly be able to monetise the new $8 billion acquisition.
Actually, revenues are declining.
“The perception was just there are sponsors waiting — they were lined up out there and as soon as we had somebody to go call on them, they were just going to sign up,” Carey admitted to the Financial Times.
“The world’s not that simple.”
Maffei, quoted by Forbes’ F1 business journalist Christian Sylt, agrees: “The one where we have lagged and we really want to see growth is sponsorship and that has probably proven to be harder and gives less uptick than we initially thought but I still remain optimistic.”
15/03/2017 Liberty chief slams Azerbaijan race Mar.15 (GMM) A dark cloud has moved above the future of Azerbaijan's grand prix.
Under ousted F1 supremo Bernie Ecclestone's leadership, a street circuit in the historic capital Baku […]
23/01/2017 Liberty hints Ferrari to lose $100m bonus Jan.23 (GMM) F1's new owner Liberty Media has indicated it is serious about taking away the $100 million bonus received by Ferrari each year.
Christian Sylt, an F1 business journalist, […]
12/11/2016 Liberty expects teams to buy into F1 Nov.12 (GMM) F1 teams are expressing interest in buying into the sport, Liberty Media CEO Greg Maffei has revealed.
As Liberty moved to take over from majority owner CVC, it emerged that […]
16/03/2019 Liberty to get tough in F1 negotiations Mar.16 (GMM) Negotiations over the next Concorde Agreement look to be heating up.
Red Bull's Dr Helmut Marko said the biggest "negative" of the Liberty Media era at present is "the […]
16/03/2017 Azerbaijan hits back at Liberty over GP jibe Mar.16 (GMM) The promoter of Azerbaijan's grand prix has hit back hard at the chief executive of F1's new owner Liberty Media.
Forbes this week quoted Liberty CEO Greg Maffei as strongly […]
04/07/2018 Ecclestone questions 2019 Miami race Jul.4 (GMM) Bernie Ecclestone has questioned whether Liberty Media will be able to add Miami to next year's F1 calendar.
F1's new owners are confident they will add the second US date to […]
21/05/2018 Liberty eyes F1 track resurfacing idea May 21 (GMM) Liberty Media might consider pushing race promoters to resurface their tracks in a bid to spice up formula one.
Greg Maffei, the Liberty CEO, told F1 business journalist […]
05/05/2017 Ecclestone hits back after Carey jibe May 5 (GMM) Bernie Ecclestone has hit back at the claim that he presided over an era of saying "no".
After decades in charge of formula one, the 86-year-old was ousted by Liberty Media […]
20/01/2017 Liberty urges teams to buy into F1 Jan.20 (GMM) New F1 owner Liberty Media has urged the teams to buy into the sport.
Earlier this week, we reported that because the share offer would not include actual voting rights on […]
28/01/2019 Liberty Media could sell F1 – report Liberty Media could be looking to sell F1 already.
The American company, having bought the rights in 2016 and appointed Chase Carey to replace long-time F1 supremo Bernie Ecclestone in […]