Liberty Media transformed Formula One racing after its more than $4 billion acquisition in 2017. Chairman John Malone foresaw untapped digital potential, and the 2020 pandemic accelerated F1’s online growth. Struggling teams faced financial collapse pre-COVID, prompting Liberty to cut costs and redistribute earnings. The cost cap has since leveled the playing field, boosting competitiveness. Netflix’s Drive to Survive and U.S. race expansions, including the Las Vegas Grand Prix, increased global popularity. As F1’s value surged to $17 billion, challenges such as sustainability and disputes with Andretti Global loom, but Liberty Media remains poised for growth.
