Teams can no longer buy F1 shares - Liberty
Jul.25 (GMM) F1 owner Liberty Media has closed the door on an offer to allow teams to buy into the sport.
In January, the company's president Greg Maffei said $400 million in shares had been set aside because it is "important to offer the teams the chance to invest in F1 and further align our interests".
However, a top team source said the offer was "not very attractive" without voting rights, and Liberty Media has now confirmed that no team took up the opportunity.
"While the window for this particular investment opportunity has passed, we are pleased with the collaborative discussions we are having with the teams," said F1 CEO Chase Carey.
"These discussions will take time, but we appreciate their receptivity towards further aligning our incentives for the long term benefit of the sport," he added.