FIA Approves the Purchase of Formula 1 by Liberty Media

The International Automobile Federation (FIA) announced that it has given the green light to the purchase of Formula 1 by the American group Liberty Media.

"The World Motor Sport Council unanimously approved the change in control of Delta Topco Limited (the holding company of the Formula 1 group and therefore the owner of the commercial rights to the FIA Formula 1 World Championship)", which is now "from CVC Capital Partners to Liberty Media Corporation", the FIA said in a statement.

This decision was expected after Liberty Media's shareholders approved the acquisition on Tuesday, announced in September, for 8 billion dollars.

The completion of the operation means that one of the most followed sports in the world is now under the control of the billionaire John Malone's group.

"The decision of the World Motor Sport Council confirms the FIA's belief that Liberty, as a renowned media organization with experience in sports and entertainment, is well positioned to ensure the continued development of its flagship championship," the statement adds.