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Liberty Media raises $1.55bn to support F1 takeover

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Liberty Media has raised $1.55 billion to support its planned takeover of Formula 1, set to be completed in the early part of 2017.

Liberty announced back in September that it had agreed a deal to become the majority shareholder in F1, taking over from CVC in a deal worth over $8 billion.

Liberty has already completed the first part of the takeover, buying 18.7% of the shares in a cash deal, and announced on Thursday that it had raised $1.55bn in third party investment to support the buyout.

“This is a significant step in Liberty Media’s transformative acquisition of Formula 1 and is further confirmation that the future of the sport is bright,” Formula 1 chairman Chase Carey said.

Liberty president and CEO Greg Maffei added: “We are excited that this impressive list of investors will participate in the acquisition of Formula 1.

“This group shares our enthusiasm for the sport and our belief in the opportunity to develop and grow it for the benefit of the fans, teams, sponsors and our shareholders.

“We look forward to closing the transaction in early 2017.”

“Following the completion of the Formula 1 acquisition and the issuance of shares to the Third Party Investors, the Third Party Investors in the aggregate will own approximately 26% of the Formula One Group’s equity,” part of the statement from Liberty reads.

“The Selling Shareholders will own approximately 39% of the Formula One Group’s equity and will have board representation at Formula 1 to support Liberty Media in continuing to develop the full potential of the sport. In addition, a CVC representative will be joining the Liberty Media Board of Directors.”

Liberty shareholders are set to meet in January to vote on plans for the acquisition of F1, with the deal also remaining subject to clearance by the necessary competition authorities in bodies, as well as requiring approval from the FIA.

Dakar Rally Stage 13: Carlos Sainz has second overall victory in sight

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Editor’s note: Check out expanded video highlights of Stage 13 Saturday at 6:30 p.m. ET on NBCSN.

Carlos Sainz is nearing his second Dakar Rally victory while Nasser Al-Attiyah strengthened his bid for second by winning Friday’s 13th stage of the endurance race.

Sainz finished sixth in his Team Peugeot ride and holds a lead of 46:18 over Al-Attiyah’s Toyota.

“I tried to play it safe, even if there were plenty of tricky parts,” said Sainz, who won the Dakar Rally in 2010 but had failed to finish the past five races because of mechanical problems. “Since the start, there has been a lot of drama in this race and it’s not over until we’ve crossed the finishing line. It’s not a crazy Dakar, but it’s very difficult. I hope everything will go OK (Saturday).”

Defending race winner Stephane Peterhansel is in fourth overall, trailing by 1:28:08 after crashing and finishing 20th in the penultimate stage. The Frenchman has a record 13 overall wins in the Dakar but is unlikely to earn another despite rebounding well from a crash in the seventh stage that had knocked him from the overall lead.

In other divisions, Eduard Nikolaev (trucks), Matthias Walkner (motorcycles), Ignacio Casale (Quads) and Reinaldo Varela (SxS UTV) are on the cusp of capturing overall wins entering the final stage.

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STAGE 13 RESULTS, CARS

  1. Qatar’s Nasser Al-Attiyah, Toyota, 5:02:22
  2. Argentina’s Lucio ALvarez, Toyota, 5:13:38
  3. South Africa’s Giniel de Villiers, Toyota: 5:15:28
  4. Poland’s Jakub Przygonski, X-Raid, 5:17:29
  5. Finland’s Mikko Hirvonen, X-Raid, 5:21:46

OVERALL 

  1. Spain’s Carlos Sainz
  2. Qatar’s Nasser Al-Attiyah, 46:18 behind
  3. South Africa’s Giniel de Villiers, 1:20:00 behind
  4. France’s Stephane Peterhansel, 1:28:08 behind
  5. Poland’s Jakub Przygonski, 2:46:32 behind

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TRUCKS

  1. Russia’s Eduard Nikolaev, Kamaz, 5:59:02
  2. Russia’s Airat Mardeev, 5:59:52
  3. Czech Republic’s Martin Kolomy, Tatra, 6:05:08
  4. Belarus’s Siarhei Vlazovich, 6:26:47
  5. Czech Republic’s Dmitry Sotnikov, 6:31:56

OVERALL 

  1. Russia’s Eduard Nikolaev
  2. Belarus’s Siarhei Vlazovich, 3:53:59 behind
  3. Russia’s Airat Mardeev, 5:21:05
  4. Czech Republic’s Martin Kolomy, 9:01:18
  5. Czech Republic’s Dmitry Sotnikov, 10:04:29

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MOTORCYCLES

  1. Australia’s Toby Price, KTM, 4:48:33
  2. Argentina’s Kevin Benavides, Honda, 4:50:36
  3. France’s Antoine Meo, KTM, 4:51:17
  4. Austria’s Matthias Walkner, KTM, 5:00:05
  5. Spain’s Juan Pedrero Garcia, 5:03:45

AMERICAN RIDERS

15th: Mark Samuels (Honda), 5:19:40

18th: Shane Esposito (KTM), 5:27:14

37th: Andrew Short (Husqvarna), 5:58:14

68th: Bill Conger (Husqvarna), 7:16:00

OVERALL 

  1. Austria’s Matthias Walkner
  2. Argentina’s Kevin Benavides, 22:31 behind
  3. Australia’s Toby Price, 27:45
  4. France’s Antoine Meo, 50:17
  5. Spain’s Gerard Farres, 1:01:19

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QUADS

  1. Argentina’s Jeremias Gonzalez Ferioli, 5:55:16
  2. Paraguay’s Nelson Augusto Sanabria Galeano, 5:58:34
  3. Chile’s Ignacio Casale, 5:59:19
  4. Argentina’s Nicolas Cavigliasso, 6:02:22
  5. Brazil’s Marcelo Medeiros, 6:02:23

OVERALL

  1. Chile’s Ignacio Casale
  2. Argentina’s Nicolas Cavigliasso, 1:37:16 behind
  3. Argentina’s Jeremias Gonzalez Ferioli, 2:05:12
  4. Brazil’s Marcelo Medeiros, 4:25:26
  5. Peru’s Alexis Hernandez, 4:34:37

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SxS UTV

  1. France’s Patricie Garrouste, Polaris, 6:29:40
  2. Brazil’s Reinaldo Varela, Can-Am, 6:39:39
  3. France’s Claude Fournier, Polaris, 7:33:17
  4. Spain’s Jose Pena Campos, Polaris, 7:41:200

OVERALL 

  1. Brazil’s Reinaldo Varela
  2. France’s Patricie Garroueste, 53:28 behind
  3. France’s Claude Fournier, 10:02:12
  4. Spain’s Jose Pena Campos, 10:06:01

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SATURDAY’S SCHEDULE

Champions in all five classes will be crowned Saturday after the 14th and final stage concludes in Cordoba, Argentina.

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