Formula 1 agrees with creditors to refinance a $3.4 billion loan I have been writing since 2002 on the Formula 1 racing and amusement park industry. My colleague Caroline Reid and I are the only journalists in the world who specialize in the Formula 1 business, and we write for more outlets than any other journalist who cover the sport. Our letter is published regularly in the Telegraph, the Guardian, the Independent, the Mail and the Express. Links to the archives of our work are available here (www.formulamoney.com/reaction/profile/). Among the remarkable exclusives is the revelation that Ferrari has a veto over the successor of the formula 1 leader, that the owners of Formula 1 had bought their formula 2 feeder series and that they would launch a junior series now called Formula 3. I regularly comment on the F1 industry on television for THE BBC, CNN, CNBC and ITV. Outside of journalism, I created the zoom series of Art Deco-inspired posters for runners and races (zoom-f1.myshopify.com/collections/posters). I am also responsible for F1 industrial monitor Formula Money (www.formulamoney.com) and the largest archive of its sponsorship values, which is available on sponsors.formulamoney.com the following link (zoom-f1.myshopify.com/pages/theme-park-articles) is to send an archive of our theme park industry and a summary of the remarkable news we have broken. Formula Money is @formulamoney on Twitter and its services are posted on the following link (www.formulamoney.com/products/). Other factors were the date of the renewal of the contract on television and the outcome of discussions on the renewal of the confidential “Concorde” trade agreement with teams and governing bodies, which expires at the end of 2020.
ENGLEWOOD, Colo.— (BUSINESS WIRE) -Liberty Media Corporation (“Liberty”) (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, BATRK, FWONA, FWONK) today announced a change in the term credit and refinancing mechanism of certain subsidiaries of Delta Topco Limited, Liberty`s subsidiary, which owns all of its shares in the Formula 1. Under the agreement related to its participation, SLEC was controlled by Kirch, which controlled the board of directors of Formula One Holdings (FOH). Due to massive losses and massive expenses, Kirch`s creditors bankrupted the company in 2002. These banks dismantled the group. Kirch`s stake in SLEC was held by Bayerische Landesbank (BayernLB), JPMorgan Chase and Lehman Brothers (via Speed Investments).