Liberty Global takes controlling stake in Formula-E

Formula E has today announced that Liberty Global Ltd is to acquire shares held by Warner Bros. Discovery in the all-electric racing series.

After completing the acquisition of Warner Bros. Discovery's shares, Liberty Global will own 65% of Formula E, giving it a controlling stake in the fastest-growing motorsport in the world.

Jeff Dodds, CEO, Formula E, said: “First of all I’d like to offer my thanks to Warner Bros. Discovery for the support and guidance they’ve provided Formula E over the past nine years. Liberty Global have a proven track record of building and growing businesses and their investment in us comes at the perfect time as we plan for a period of exponential growth.

"Having personally known and worked alongside the Liberty leadership team for over a decade, I’m thrilled to be able to further benefit from their expertise and their resources. This is a powerful vindication of the huge potential of our sport.”

Mike Fries, CEO, Liberty Global, said: “We’re excited to take a controlling interest in Formula E, a business we first invested in nearly 10 years ago.

"Formula E has a massive potential for further growth while integrating the most advanced sustainability standards in sports. The investment continues our approach of disciplined capital rotation across our Ventures portfolio and our strategy of making long-term investments in highly attractive businesses.”

Formula E is the only FIA sanctioned all-electric world motor racing championship, the number one-rated ESG sport on the planet and the first net zero carbon sport from inception.






Photo credit: 62228813 Formula E © Chung Jin Mac Dreamstime.com