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FIA approves Liberty Media purchase of F1

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A day after Liberty Media Corporation’s shareholders approved the proposals for its impending acquisition of Formula 1, the FIA has now done the same.

The decision was taken at today’s World Motor Sport Council meeting in Geneva and was approved unanimously. Liberty said on Tuesday night it hoped to have the full transaction completed by the end of the 2017 first quarter.

The statement from the FIA reads:

“The World Motor Sport Council has unanimously approved the change of control of Delta Topco Limited (the holding company of the Formula One Group and thus the owner of the Commercial Rights of the FIA Formula One World Championship) from CVC Capital Partners in favour of Liberty Media Corporation at an extraordinary meeting today in Geneva.

“The transaction will see the transfer of 100% of the shares in Delta Topco to Liberty Media Group, one of the tracking stocks of Liberty Media Corporation.

“During the meeting, the representatives of the prospective new owner made a detailed presentation of their strategy. The members of the World Motor Sport Council then had the opportunity to ask questions about the specifics of the agreement, the ongoing working relationship with the FIA and Liberty’s plans for the sport.

“Liberty, Formula One Group and the FIA intend to collaborate to create a constructive relationship that will ensure the continued success and the development of the FIA Formula One World Championship in the long term.

“The World Motor Sport Council’s decision confirms the FIA’s belief that Liberty, as a renowned media organisation with expertise in both sport and entertainment, is clearly well positioned to ensure the continued development of its pinnacle Championship.

“The FIA holds a one per cent shareholding in Delta Topco. As part of the sale by CVC to Liberty Media Corporation, and in line with the agreements between the FIA and the Formula One Group, the FIA will be dragged along in the sale process under the same conditions as CVC and all the other shareholders.

“The FIA looks forward to working with the new owners of the Formula One Group on further developing the unrivalled global spectacle that is the FIA Formula One World Championship for all stakeholders.”

Liberty has also added in its own statement:

“Liberty Media Corporation announced today that it has received the requisite consents and approvals from the Fédération Internationale de l’Automobile (“FIA”), the governing body of Formula 1, in connection with its pending acquisition of Formula 1, and that the closing conditions related to the FIA have now been satisfied. The acquisition is expected to close this month.”

Kubica, di Resta complete Williams F1 tests in Hungary

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Robert Kubica and Paul di Resta have both completed one-day tests for Williams in a 2014-spec Formula 1 car as part of the team’s evaluation for its 2018 line-up.

Williams is known to be considering a number of drivers to partner Lance Stroll at the team next year, including existing racer Felipe Massa.

Massa is thought to be going up against Kubica and di Resta for the 2018 drive, with the latter duo taking part in a private test at the Hungaroring in Budapest this week to aid the team’s evaluation.

After missing out on a 2018 Renault drive due to lingering questions about his physical condition six years after his rally accident, Kubica tested for Williams at Silverstone last week before getting back behind the wheel of the 2014 FW36 car in Hungary on Tuesday.

Kubica’s test was called “productive” by Williams, with the Pole handing duties over to Mercedes DTM racer di Resta on Wednesday.

Di Resta raced in F1 with Force India between 2010 and 2013 before returning to DTM, but made a surprise return at this year’s Hungarian Grand Prix with Williams when Massa was taken ill. Di Resta impressed on short notice, putting himself in contention for a full-time return to F1 in 2018.

Williams has one of the few remaining seats on offer in F1 for 2018, with Massa’s future known to be in question after a quiet campaign thus far.

The Brazilian had been due to retire from F1 at the end of last year, only for Williams to recall him after Valtteri Bottas’ late move up to Mercedes following Nico Rosberg’s surprise retirement.

Massa has made clear he would like to keep racing in F1 next year, but only if the deal is right and if Williams is determined to keep him.

While Massa, Kubica and di Resta appear to be the three leading contenders for the seat, Williams technical chief Paddy Lowe made clear in Japan there was a “large range” of drivers under consideration.

“You’ve probably seen a number of names that are floating around that we’re looking at, but honestly, the range is almost unlimited,” Lowe said.

“We will consider all ideas. We’re not in a super hurry to do so, and we’ll just make sure we land the best line-up we can.”