John Malone, 49% shareholder of F1 and future CEO, is not open to ceding control in the event that buyers have a more important project. The American explained this on CNBC’s Squawk on the Street.
“After all these years, I have come to the conclusion that I want to use my control to maximize value for my shareholders” Malone said. “Over the past 20 years, I have never accepted or sought to obtain a control premium for any transaction. I am therefore prepared to cede my controlling position if it is in the long-term interests of my shareholders.”
However, he is ready to verify that a certain stability is established around Formula 1 to ensure a calm and assured future for the discipline: “So I usually say that the door is always open. But I believe that Formula 1 has a very bright future as it stands. The management team has done a remarkable job.”
“It now has a very strong brand that can be developed, and there are many opportunities to expand into motor racing, synergistically. So I think I will definitely watch it for a few years before deciding whether it is better to combine it with something else.”
Belgium
