Liberty Media Open to F1 Sale Under Specific Conditions, Says John Malone

Liberty Media's chairman John Malone indicated that Formula 1 could be sold if an exceptional offer materializes, despite the series' current strong performance and shareholder satisfaction.

Why it matters:

This statement from Liberty Media's founder and largest voting shareholder clarifies the company's long-term strategic flexibility regarding its high-value asset, F1. It suggests that while F1 is performing exceptionally well, no asset is truly off-limits if the price is right.

The big picture:

• Liberty Media acquired F1's commercial rights in 2017 for $301 million.
• Under Liberty's ownership, F1 has seen a significant surge in popularity and financial performance, now also encompassing Dorna (MotoGP).
• Malone emphasized that shareholders "love F1 at the moment" due to its "exceptionally good economic structure" and status as a "very large free cash flow generator."

The details:

Malone, speaking on the Opening Bid Unfiltered podcast, stated there is "no urgency to sell" and highlighted F1's strong brand and potential for "incremental, synergistic add-ons." However, he clearly outlined the conditions for a potential sale:

• "It's a public company."
• "If somebody gets carried away, and they want to buy it, and they're willing to pay more for it than the board thinks that they can deliver to the shareholders, then we would sell it. I mean, that's the bottom line."

This pragmatic approach underscores Liberty Media's commitment to maximizing shareholder value.