How Liberty Media became one of the world’s most valuable sports empires [Video]

When Liberty Media Chairman John Malone finalized the $4.4 billion acquisition of Formula One in 2017, he knew he was onto something.

“There’s an opportunity to take F1 to another level,” he told reporters in 2016. “There’s an untapped digital market [that] F1 has only scratched the surface on.” 

What no-one could have foreseen was how soon F1’s opportunity would present itself. As global lockdowns began in 2020, sports fans surged online and Liberty Media had a chance to realize Malone’s vision. 

For it to work however, Liberty first had to get a handle on the sport’s finances.

“If you have a look before Covid in 2019 it was a tough situation, close to bankruptcy,” said Fred …