Sep.5 (GMM) Liberty Media chairman John Malone admits he can be prepared to promote System 1 – however provided that the supply outweighed the game’s surging worth.
Chatting with Yahoo Finance govt editor Brian Sozzi on the Opening Bid Unfiltered podcast, the 84-year-old billionaire mentioned F1 stays certainly one of Liberty’s standout belongings.
“I believe the shareholders appear to find it irresistible proper in the meanwhile,” Malone mentioned. “It’s actually performing effectively.”
Liberty, which additionally acquired MotoGP earlier this 12 months in a $4.2 billion deal, purchased management of System One Group in late 2016 for $4.4bn. At the moment, the corporate’s share value values F1 at near $100bn.
“It has an exceptionally good financial construction,” Malone defined. “It will likely be a really giant free money movement generator, and there maybe will probably be incremental, synergistic add-ons. It nonetheless has a giant model to drive.”
As for promoting, Malone made clear the door isn’t closed.
“Look, it’s a public firm,” he famous. “If someone will get carried away, they usually need to purchase it, they usually’re prepared to pay extra for it than the board thinks that they’ll ship to the shareholders, then we’d promote it. I imply, that’s the underside line.”
Even particular person groups are reportedly now valued at over $2.3bn on common, with world curiosity additional boosted by the success of the Brad Pitt F1 movie.
