Formula 1 is often seen as a sport defined by speed, technology and fierce rivalries. Films like Rush brought the dramatic battles of drivers such as James Hunt and Niki Lauda to a global audience.
But behind the racing action lies a powerful business structure. Formula 1 is not just a championship; it is a multi-billion-dollar global enterprise. So, who owns Formula 1 today, and how does the business operate?
What Is Formula 1?
Formula 1 is referred to as the top tier of racing for single-seat cars and started its World Championship in 1950. In the years since then, it has become a worldwide sport with races on several continents. While the racing itself operates under the governing body of the Fédération Internationale de l’Automobile (FIA), the commercial aspects of the sport are managed separately from the FIA.
Although the FIA establishes all technical regulations, regulations regarding safety and regulations regarding race operations, the FIA does not have any of the commercial rights.
The Bernie Ecclestone Era
The period when Bernie Ecclestone ran Formula 1 was the primary period for the commercial growth of it.
The Formula 1 Constructors Association (FOCA), as well as Bernie Ecclestone (who helped negotiate television contracts and other commercial agreements), was instrumental in helping F1 become what it is today.
Ecclestone created the F1 Group in 1987 with the objective of taking control of the commercial rights to F1.
From that point on, F1 grew globally, signed long-term television contracts, and attracted large sponsors to assist in long-term profitability, while also becoming globally recognised.
Who Owns Formula 1 Today?
In 2017, a major change took place. The investment firm CVC Capital Partners sold its controlling stake in Formula One Group to Liberty Media for approximately $4.4 billion.
Today, Liberty Media fully owns F1’s commercial rights through F1 Group.
This means Liberty Media controls:
- Television and media rights
- Race promotion agreements
- Sponsorship deals
- Licensing and merchandise
- Digital platforms such as F1 TV
The FIA continues to govern the sport, but Liberty Media runs the business side.
How Liberty Media Changed F 1
When Liberty Media took over, F1 faced concerns about declining interest among younger audiences and a limited digital presence.
Liberty focused on modernisation and expansion. Key steps included:
- Expanding races in the United States, including Miami and Las Vegas
- Strengthening social media engagement
- Launching and promoting F1 TV as a streaming platform
- Partnering with Netflix for the series Formula 1: Drive to Survive
The Netflix series played a major role in attracting new and younger fans by showing the behind-the-scenes world of drivers, team principals and rivalries.
As a result, global viewership and attendance increased significantly. Revenues also grew strongly in the years following Liberty Media’s acquisition.
F1 today is owned commercially by Liberty Media, while the FIA governs the sporting rules and safety standards.
Also Read: Top 10 Richest Formula 1 Drivers
