Liberty Global to Acquire Warner Brothers Discovery Formula E Stake

Formula E has announced that Liberty Global Ltd. (“Liberty Global”) will acquire shares held by Warner Bros. Discovery in the all-electric racing series. Upon completion, Liberty Global’s ownership in Formula E will increase to 65%, giving the company a controlling interest in the rapidly expanding motorsport.

Formula E is the only FIA-sanctioned all-electric world motor racing championship. It is recognized as the world's No.1 rated ESG sport and is the first net-zero carbon sport from inception. Now in its 10th season, Formula E features a diverse sporting calendar with 16 races held in some of the most iconic city locations across four continents.

Growing Popularity and Talent in Formula E

With nearly 400 million fans worldwide, Formula E hosts 11 teams and 22 world-class drivers. The series has become a premier destination for top motorsport talent, including teams such as Jaguar TCS Racing, TAG Heuer Porsche Formula E Team, and NEOM McLaren Formula E Team.

Unveiling of the GEN3 EVO

At the recent Monaco E-Prix, Formula E unveiled its new car for Season 11, the GEN3 EVO. This car is capable of accelerating to 60mph in just 1.82 seconds, approximately 30% faster than a current Formula 1 car.

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 ten 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.”

The completion of the acquisition is anticipated to occur by year-end, pending regulatory approval.