Liberty Global Acquires Controlling Stake In Formula E

Liberty Global has agreed to acquire a controlling stake in Formula E, the all-electric racing series has confirmed.

When complete, the deal will see the US company take up the shares previously held by broadcasting giant Warner Bros. Discovery, bringing its total ownership stake in the series to 65%.

With almost 400 million fans globally, London-headquartered Formula E comprises 11 teams and 22 drivers. Having first launched in 2014, the championship is currently in its 10th season.

Jeff Dodds, CEO of Formula E, said, “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 of Liberty Global, added, “We’re excited to take a controlling interest in Formula E, a business we first invested in nearly ten 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.”

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