Big Adam
·I wonder why the photo is reversed?
Interesting news, it looks like Carlos Slim just bought Force India... Perez has been saying his sponsors were considering their options before a couple of days ago confirming he was staying at the team, now the fourth richest man in the world (worth 51 Billion) has bought it out... if he wants to he can take this team from the upper midfield to competing with the likes of Redbull and Mercedes, and even they can't outspend him.
https://twitter.com/thebuxtonblog/status/773527067610583040
Liberty Media will purchase auto racing league Formula One.
The mass media group will acquire Formula One in a deal that represents an equity value of $4.4 billion for the racing organization. Liberty Media will hold an 18.7 percent minority stake in the Formula One immediately, and then the remainder when the deal closes as early as the first quarter of 2017.
Chase Carey, executive vice president of 21st Century Fox, will be appointed chairman of Formula One. Bernie Ecclestone, current CEO of the racing group, will remain in his position.
Liberty Media will pay$1.1 billion in cash, 138 million Liberty Media shares and $351 million worth of an exchangeable debt instrument to be issued by Formula One, which can be exchanged into Liberty Media shares. It will also assume $4.1 billion in Formula One's current debt.
After the deal, Liberty Media intends to change its name to the Formula One Group. CVC, the current largest shareholder of Formula One, will own about 65 percent of the to-be-renamed Liberty Media group, but it won't have control of voting shares.
Liberty Media's Liberty Capital division also owns the Atlanta Braves.
The U.S.-based company, which is controlled by Chairman John Malone, also has a 27 percent investment stake in Charter Communications, Inc., a 53 percent stake in Sirius XM Radio, Inc., and a 26 percent stake in Live Nation Entertainment Company, as well as smaller investments in Viacom, Time Warner, Sprint Corporation and Barnes & Noble, among others.
— Reporting by CNBC's David Faber
Fantastic race although shocking luck for Lewis.
Yea, the frustrating thing is I feel bad for him but his remarks just add fuel to the fire regarding the conspiracy theorists who are now bombarding Mercedes with abuse and calling their engineers on Lewis' side of the garage corrupt and incompetent when they really don't deserve that.