Written by Jake O'Callaghan
Formula E announced today that Liberty Global Ltd. has taken a controlling ownership stake of the electric single-seater championship.
Liberty Global had already owned shares in the series, but their acquisition of shares from the previous controlling owners, Warner Bros. Discovery, brings their total ownership stake to 65%, per the company's press release.
In that press release, Formula E CEO Jeff Dodds stated: "Liberty Global have a proven track record of building and growing businesses and their investment in us comes at the perfect time as we plan for a period of exponential growth."
"Having personally known and worked alongside the Liberty leadership team for over a decade, I’m thrilled to be able to further benefit from their expertise and their resources. This is a powerful vindication of the huge potential of our sport.”
CEO of Liberty Global, Mike Fries, also made a statement. It read:
“We’re excited to take a controlling interest in Formula E, a business we first invested in nearly 10 years ago. Formula E has a massive potential for further growth while integrating the most advanced sustainability standards in sports."
Liberty Global is chaired by the same person as Liberty Media (owners of Formula One), that being billionaire John C. Malone. His role as chairman of both companies has been a challenge, particularly being embroiled in constant legal issues over accusations of anti-trust violations committed by his companies. Liberty Global controls multiple media and telecommunications companies across Europe and the Americas.
This investment in Formula E is the latest motorsport venture in his portfolio, after his other company, Liberty Media, invested in Formula One, MotoGP, and World Superbikes. Malone is on the board of directors for both Formula E's new owners Liberty Global, and their previous owners Warner Bros. Discovery.
This announcement comes after Formula E announced its 2025 calendar earlier this week, with a new race in Miami the headline alongside confirmation of a return to the popular Jakarta ePrix circuit in Indonesia.
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