“It still takes time, but at the league level, you can accomplish things in a way that is very challenging at the team level.”
Through his Extreme E team X44, which folded earlier this year, Hamilton had interests outside of Formula One. He also has stock in the Denver Broncos, an NFL team.
It was disclosed in August that Liberty Media had raised $1.2 billion for the purchase of MotoGP by selling a portion of F1.
Maffei gave a favourable assessment of the financial status of MotoGP and Formula 1.
Over the past few years, Maffei said, “we have lowered the leverage of Formula 1, the parent company dramatically, partly through success and partly by generating cash flow to finance the $4.2 billion purchase of MotoGP.”
The remaining funds will be financed on our balance sheet; their balance sheet leverage will remain relatively low in comparison to the historical amounts that have been managed for both companies. We have raised just under $1 billion in equity money.
We’ll probably concentrate on cash flow management for a while. While we’ve already considered return on capital through equity repurchase, we’ll also keep an eye out for additional synergistic opportunities.
“We have paid back capital, and we do anticipate being bought back in the future. I don’t want our shareholders to believe that we’re abandoning what has been a Liberty Hallmark.
Leave a Reply