Zak Brown confirms F1 and Liberty Media continue ownership shares negotiations

F1 Update: Zak Brown has played down reports Formula 1 teams might be reluctant to accept Liberty Media’s offer of shares in the sport.

It emerged in recent days that although the F1 ownership is offering up to 22 percent of the commercial rights to the teams, it would not involve voting rights. But McLaren’s new executive said the British team remains interested in buying into F1.

“We think it’s great that Liberty has offered the teams to invest,” he told Sports Business Daily Global. “We are reviewing that now, and it will ultimately be a decision for our shareholders.”

As for the fact the shares would not involve actual voting rights on important matters, Brown played that down.

“It’s an economic investment decision,” he said. “I think there are a lot of different ways that the governance of the sport can be run in the future, and I think investing and having a board seat is one way, but it’s not the only way.”

Category: Formula One