Liberty Global Gains Controlling Stake in Formula E: New Era for EV Racing

In a significant development for the world of motorsports, Liberty Global has secured a controlling 65% stake in Formula E, acquiring shares from Warner Bros Discovery. This move marks a pivotal shift in the landscape of electric racing, positioning Liberty Global as the leading force behind the series.

The Acquisition: A Decade in the Making

Liberty Global's journey with Formula E began a decade ago with an initial investment, and this recent acquisition solidifies its commitment to the future of electric racing. By increasing their ownership share to 65%, they now hold the reins as the controlling shareholder, with the remaining 35% divided among minority shareholders. The deal is set to be finalized before the end of 2024, pending regulatory approval.

Strategic Independence from Liberty Media

It is crucial to note that this acquisition is independent of Liberty Media's ownership of Formula 1 and its future control plans for Dorna Sports, which manages MotoGP and the World Superbike Championship. This strategic separation allows Liberty Global to focus on the unique demands and opportunities within the electric racing sphere, without overlapping with Liberty Media's existing motorsport interests.

Formula E's Growing Calendar and Technological Advancements

As Formula E gears up for its 11th season, the series is set to captivate audiences with an expanded 2024-25 calendar, featuring 17 races, including a Monaco double-header and a new round in Miami. This ambitious schedule underscores the series' commitment to broadening its global footprint and engaging new audiences.

Jeff Dodds, CEO of Formula E, has highlighted two key focus areas for the upcoming investment: car technology and the expanding race calendar. The evolution from Generation 3.5 to Generation 4 cars promises significant advancements, with Dodds describing the future vehicles as "incredible racing cars." This technological leap is anticipated to elevate the competitive edge and excitement of the series.

Promoting the Series and Attracting New Audiences

Promotion and audience engagement are also at the forefront of Liberty Global's strategy. By taking the series to new and iconic locations, Formula E aims to attract a diverse and growing fanbase. The recently announced 2024-25 calendar exemplifies this approach, with bold moves designed to showcase the thrilling spectacle of electric racing to a wider audience.

A Bright Future for Electric Racing

Liberty Global's controlling stake in Formula E marks a new chapter in the evolution of electric motorsports. With a robust investment plan centered on technological innovation and global expansion, the series is poised for unprecedented growth. Motorsport fans can look forward to witnessing the exciting developments and landmark moments that lie ahead as Formula E continues to push the boundaries of what electric racing can achieve.