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Formula E has announced a new majority shareholder of the all-electric championship.
Formula E has announced that Liberty Global will acquire Warner Bros. Discovery’s shares in the all-electric championship, making it the sport’s majority shareholder, with Liberty Global’s stake in the series set to increase to 65%. Liberty Global, a leading multinational telecommunications company with a net worth of $7.18 billion, is poised to become the controlling shareholder of the all-electric series. This major development follows Formula E’s recent reveal of a record-breaking 17-race calendar for 2024/25, including a return to Miami.
“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,” said Formula E CEO, Jeff Dodds. Liberty Global’s proven track record in business growth and investment aligns perfectly with Formula E’s plans for exponential growth.
The transaction is anticipated to be finalized by the end of 2024, pending regulatory approval, with Liberty Global’s expertise and resources positioned to drive Formula E’s future success. Liberty Global, with headquarters in London, Amsterdam, and Denver, originally invested in Formula E a decade ago. The remaining 35% of shares will remain with minority shareholders, separate from Liberty Media’s ownership of F1 or their forthcoming ownership of MotoGP.
“We’re excited to take a controlling interest in Formula E, a business we first invested in nearly ten years ago,” stated Liberty Global CEO, Mike Fries. The investment reflects Formula E’s significant growth potential and commitment to sustainability, aligning with Liberty Global’s strategic approach to long-term investments in thriving businesses across their Ventures portfolio.
