John Malone's Liberty Media has agreed to buy the iconic racing series in a deal that values it at $4.4 billion.


Liberty, which has a stake in SiriusXM and the Atlanta Braves, plans to carry out its takeover from European private equity firm CVC Capital Partners in two steps. The first is a cash payment of $746 million for an initial 18.7% stake in F1.

Once regulatory approval has been secured, Liberty will take full control of F1. It will also assume its debt, lifting the overall transaction value to $8 billion.

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American Billionaire Scoops Up Formula 1 Series For $4.4 Billion

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