LbWarner Bros. Discovery has sold its 65% controlling Formula E shares to Liberty Global, as IndyCar enters in broadcast deal with FOX Sports.
Formula E –
The acquisition of shares held by Warner Bros. Discovery will, on completion, bring Liberty Global’s total share of ownership in Formula E to 65% and mean that Liberty Global will take a controlling interest in the world’s fastest growing motorsport. Formula E is the only FIA sanctioned all-electric world motor racing championship, the number one-rated ESG sport on the planet and the first net zero carbon sport from inception.
In its 10th season of all-electric city racing, the Formula E boasts one of the best and most diverse calendars in world sport, with 16 races in some of the world’s most iconic city locations across four continents. Now, with almost 400 million fans around the world, 11 teams and 22 world-class drivers on the grid, Formula E is a destination for the best motorsport talent on the planet, including racing teams Jaguar TCS Racing, Nissan, TAG Heuer Porsche and NEOM McLaren.
At the recent Monaco E-Prix, Formula E revealed its new car for Season 11, the GEN3 Evo, capable of accelerating to 60mph in 1.82 seconds, around 30% faster than a current Formula 1 car, and quicker than any other FIA sanctioned single-seater.
Jeff Dodds, CEO, Formula E, said: “First of all I’d like to offer my thanks to Warner Bros. Discovery for the support and guidance they’ve provided Formula E over the past nine years. Liberty Global have a proven track record of building and growing businesses and their investment in us comes at the perfect time as we plan for a period of exponential growth.
“Having personally known and worked alongside the Liberty leadership team for over a decade, I’m thrilled to be able to further benefit from their expertise and their resources. This is a powerful vindication of the huge potential of our sport.”
Mike Fries, CEO, Liberty Global, said: “We’re excited to take a controlling interest in Formula E, a business we first invested in nearly 10 years ago. Formula E has a massive potential for further growth while integrating the most advanced sustainability standards in sports. The investment continues our approach of disciplined capital rotation across our Ventures portfolio and our strategy of making long-term investments in highly attractive businesses.”
IndyCar –
INDYCAR and FOX Sports announced June 13 the new exclusive home of the NTT INDYCAR SERIES and the iconic Indianapolis 500 presented by Gainbridge beginning in 2025. The new media rights deal provides a massive and unprecedented increase in exposure for North America’s premier open-wheel racing series, with every 2025 race airing on FOX and available on the FOX Sports app. FOX Deportes will carry exclusive Spanish-language television coverage, with a schedule to be announced at a later date.
FOX will also provide coverage of Indy 500 qualifications on both Saturday and Sunday, bringing the total number of broadcast network windows to 19, a record for the NTT INDYCAR SERIES. INDYCAR will become the only premier motorsport in the United States with exclusive major broadcast network coverage for all its races.
“This represents unrivaled exposure and provides an unparalleled growth opportunity for the most competitive and entertaining motorsport on the planet,” INDYCAR CEO Mark Miles said. “FOX Sports is a fully committed partner, ready to bring engaging and technically innovative coverage to millions of fans across the country while also promoting INDYCAR thoroughly across all its platforms.”
“Adding the iconic Indianapolis 500 and delivering the entire NTT INDYCAR SERIES to the FOX Sports roster fits perfectly within our model of teaming with sports’ largest events and best-in-class brands,” FOX Sports CEO and Executive Producer Eric Shanks said. “We’re honored to be the new broadcast home to ‘The Greatest Spectacle in Racing,’ an incredibly special event to everyone at FOX Sports.”
The 2025 NTT INDYCAR SERIES season kicks off with the Firestone Grand Prix of St. Petersburg on Sunday, March 2 and concludes with the Big Machine Music City Grand Prix on Sunday, Aug. 31. The 109th Running of the Indianapolis 500 presented by Gainbridge takes place on Sunday, May 25. The full schedule for the NTT INDYCAR SERIES was released today and can be viewed here.
Indianapolis 500 Race Day coverage will be extensive for fans across the country, with a five-hour window on FOX set aside for “The Greatest Spectacle in Racing.” The Indy 500 is annually the world’s largest single-day spectator sporting event, attracting a crowd of more than 300,000 people to the famed Indianapolis Motor Speedway.
The immersive collaboration will see all practice and qualifying sessions for the NTT INDYCAR SERIES telecast on cable on FS1 and FS2. The majority of INDY NXT by Firestone races will also air on FS1, with FS2 providing supplemental coverage of additional races. This news comes on the heels of continued growth and momentum for INDYCAR, which has seen rising attendance across its schedule, significant growth in commercial partnerships and record metrics across its digital platforms. Additional announcements, including on-air talent, will be announced at a later date.
[Note: The story is as per press release]
