F1’s incoming CEO hints at a possible sale, emphasizing alignment with long-term interests to maximize shareholder value and stability.
John Malone, a 49% shareholder in F1 and its future CEO, is not opposed to relinquishing control if buyers present a more significant project. The American discussed this on CNBC’s Squawk on the Street.
“After all these years, I’ve come to the conclusion that I want to use my control to maximize value for my shareholders,” Malone stated. “Over the past 20 years, I’ve neither sought nor accepted a control premium for any transaction. I’m therefore open to giving up my controlling position if it’s in the long-term interest of my shareholders.”
However, he emphasized the importance of ensuring stability around Formula 1 to secure a promising and assured future for the sport: “I always say the door is open. But I believe Formula 1 has a very bright future as it stands. The leadership team has done a remarkable job.”
“It now has a very powerful brand with room for growth, and there are numerous opportunities for expansion in motorsport, leveraging synergies. So I think I’ll certainly keep an eye on it for a few years before deciding whether it’s better to combine it with something else.”
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F1’s Future Leadership Hints at Possible Ownership Shift F1’s Future Leadership Hints at Possible Ownership Shift