Former Formula 1 CEO Bernie Ecclestone has been ordered to pay $800 million after pleading guilty to tax fraud in court in the United Kingdom.Ecclestone had previously entered a not guilty plea to the charge relating to a trust held in Singapore, having not disclosed it to the government back...

Liberty Media has given Formula 1 a net cash payment of $1.4 billion and made advanced payments for teams after reattributing its stake in Live Nation.With Live Nation originally on the Formula One Group tracking stock, Liberty has moved this to the SiriusXM tracking stock in order to reduce the...

Formula 1 chairman and chief executive Chase Carey believes Bernie Ecclestone's approach to management has led to "a level of frustration" within the sport.Carey took over from Ecclestone when Liberty Media completed its acquisition of Formula 1 in January of this year, quickly putting in place a three-man management team...

The GP2 Series has been renamed the FIA Formula 2 Championship following an agreement between Formula One Group and the FIA at a meeting of the World Motor Sport Council in Geneva."I am very pleased to announce the evolution of the GP2 Series to become the FIA Formula 2 Championship,"...

The FIA has given its approval for the sale of Formula 1 from CVC Capital Partners to Liberty Media following a meeting in Geneva.An extraordinary meeting of the World Motor Sport Council (WMSC) took place on Wednesday to discuss the change in ownership, with Liberty Media set to become majority...

Sport newsThe 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...

Liberty Media stockholders have approved the next stage of the corporation's takeover of Formula 1 following a special meeting.Having agreed to purchase a majority shareholding in F1 in September 2016, valuing the sport at $8 billion, Liberty has been progressing with the deal on a number of fronts, including securing...

Liberty Media has announced it has entered into agreements with third party investors to commit $1.55 billion toward its acquisition of Formula 1.A group of investors – named by Liberty as Coatue Management, the D. E. Shaw group, JANA Partners, Ruane, Cunniff & Goldfarb Inc., Soroban Capital Partners, SPO Advisory...

Stockholders in Liberty Media will vote on plans relating to the takeover of Formula 1 in January, the company has announced.Liberty agreed terms to become the majority stockholder in F1 back in September, acquiring an initial 18.7% stake ahead of a planned purchase of 100% of the stock of the...

Former Ferrari president Luca di Montezemolo has hit back at "gratuitous and unfounded accusations" about his management of the company and its Formula 1 team by new chairman Sergio Marchionne.Di Montezemolo announced in September that he was stepping down from his role after a 23-year spell at the helm of...