P1racenews AI automatic summary:
Outgoing Liberty Media CEO Greg Maffei has ruled out his departure being linked to the company selling Formula 1.
“F1 has experienced significant growth since Liberty Media took over from Bernie Ecclestone in 2017. The sport has made a big impact in the American market and achieved global recognition, largely due to the popularity of Netflix’s ‘Drive to Survive.’ There were rumors last year about Saudi Arabia’s PIF showing interest in a $20 billion takeover of F1, but Liberty Media’s departing CEO, Greg Maffei, doesn’t believe there are plans to sell the series. Under Maffei’s leadership, F1 has seen substantial growth in global partnerships and revenue streams, with a focus on increasing fan interest and sponsorship. John Malone, Liberty Media Chairman and soon-to-be acting CEO, is optimistic about F1’s future and sees opportunities for expansion in the racing business, emphasizing the strong brand and management team in place.”
