CEO To Leave Liberty Media Clearing The Way For Andretti Racing To Enter Formula 1

Formula 1's owners, Liberty Media, have announced that CEO Greg Maffei will leave his position at the end of 2024.
 

Maffei has been with Liberty Media since June 2005 and became CEO in February 2006. He was part of the company's purchase of the Formula One from Delta Topco in September 2016 for £3.3 billion. Through their efforts to market the sport to a wider audience, F1's popularity has since exploded with the hit Netflix TV series Drive To Survive, helping bring new fans in overnight.

 

The uptick in popularity turned drivers such as Lewis Hamilton, Max Verstappen, and Daniel Ricciardo into household names, helping the sport gain a foothold in the competitive American market after years of trying and failing and sell out most of the sport's 24 Grand Prixs.