Formula One Group
The group of companies that holds and administers the commercial, promotional, broadcasting, licensing, and related business rights of the FIA Formula One World Championship.
Last updated August 31, 2026
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Overview
Formula One Group is the corporate structure responsible for the commercial exploitation and promotion of the FIA Formula One World Championship. It is not the sporting regulator: the Fédération Internationale de l'Automobile (FIA) governs the championship's sporting and technical framework, while Formula One Group manages the business infrastructure that enables the series to operate as a global entertainment and media property. Its activities include negotiating Grand Prix hosting agreements, selling international broadcasting rights, producing the world feed, managing sponsorship and licensing, coordinating championship logistics, operating hospitality programs, and distributing commercial revenues to participating teams under the Concorde Agreement. The group's modern business structure developed from efforts in the 1970s to give Formula One teams greater collective control over the sport's commercial affairs. The Formula One Constructors' Association was formed in 1974, and Bernie Ecclestone became its executive in 1978. Following disputes with the FIA's then-sporting body, FISA, the 1981 Concorde Agreement gave the teams' representative organization a formal role in negotiating television contracts. Ecclestone subsequently created Formula One Promotions and Administration, later known as Formula One Management, to administer the sport's commercial and broadcasting operations. This centralized model transformed Formula One from a collection of race events into a coordinated international championship with common media presentation, promoter contracts, sponsorship arrangements, and team payments. Ownership passed through a complex sequence of holding companies. SLEC Holdings was established in the 1990s, followed by investment transactions involving Morgan Grenfell Private Equity, Hellman & Friedman, Speed Investments, EM.TV, and the Kirch Group. The financial difficulties of Kirch and the collapse of EM.TV led to a restructuring in which creditor banks temporarily held important interests. CVC Capital Partners acquired control during 2005 and 2006 through the Delta Topco structure. During the CVC period, the group considered public offerings and remained a major private-equity-owned sports business, with Ecclestone continuing to act as the central executive figure. Liberty Media agreed to acquire control of Formula One Group in late 2016, and the transaction closed on 23 January 2017 after regulatory approval. Chase Carey became executive chairman and chief executive, while Ross Brawn assumed a newly created motor-sports and technical leadership role. Carey was succeeded as chief executive by Stefano Domenicali in 2021. As of the supplied reference material, Domenicali serves as president and chief executive officer and Carey remains non-executive chairman. The group is publicly represented by Liberty Media's Nasdaq tracking stocks, FWONA and FWONK, rather than by a standalone Formula One operating-company listing. Formula One Group includes or is associated with several specialized businesses. Formula One World Championship Limited holds the long-term commercial rights granted by the FIA; Formula One Management handles much of the operational, promotional, broadcasting, and logistical work; and Formula One Licensing BV controls important Formula One trademarks. Allsport Management has handled trackside advertising and the Formula One Paddock Club hospitality business. Formula Motorsport Limited has operated feeder categories, including the GP2 and related development series, which provide a pathway for drivers toward Formula One. In 2025, Liberty Media also completed the acquisition of a majority interest in Dorna Sports, bringing the commercial rights to MotoGP and the Superbike World Championship into a wider Liberty-controlled motorsport portfolio, although those properties remain distinct from Formula One's championship operations.
History
Formula One's commercial organization began to take recognizable corporate form in the 1970s. The Formula One Constructors' Association was founded in 1974 to coordinate the interests of participating teams and improve the commercial organization of the championship. Bernie Ecclestone became its executive in 1978 and subsequently emerged as the leading negotiator between teams, promoters, broadcasters, and the FIA's sporting authorities. A major constitutional dispute between the teams' organization and FISA was settled in March 1981 through the first Concorde Agreement. The agreement gave the teams a collective basis for negotiating television contracts and helped replace uncertain, fragmented arrangements with a more centralized commercial system. When a new agreement was reached in 1987, Ecclestone stopped operating as a team owner and established Formula One Promotions and Administration, or FOPA, to manage television rights and commercial administration on behalf of the teams. FOPA later became Formula One Management. Its responsibilities expanded to include promoter relations, television production, distribution, prize-money administration, and the organization of the championship calendar. The 1990s brought a succession of ownership and rights arrangements. SLEC Holdings was created in 1996 as a holding company for Ecclestone's Formula One businesses. A 1995 Concorde Agreement had provided Formula One Administration with a long-term commercial concession from the FIA, while the 1998 agreement resolved team objections concerning the treatment of team names and commercial rights. At the same time, the European Commission investigated allegations involving the FIA, Formula One Administration, and International Sportsworld Communicators, including concerns about exclusive broadcasting arrangements and the possible abuse of a dominant position. Investment transactions changed the ownership structure again between 1999 and 2002. Morgan Grenfell Private Equity and Hellman & Friedman acquired interests in SLEC and combined them in Speed Investments. EM.TV then purchased Speed Investments, but financial problems at EM.TV contributed to the involvement of the Kirch Group. Kirch financed an increase in its interest using substantial borrowing, while leading automobile manufacturers created GPWC Holdings as a potential alternative championship structure. Kirch's later insolvency resulted in banks taking control of important Formula One interests and generated litigation over the governance and control of the commercial rights. Ecclestone retained operational influence, and negotiations with teams ultimately supported the continuation of the Concorde framework. CVC Capital Partners became the dominant financial owner during 2005 and 2006. It acquired interests held by Bambino Holdings, BayernLB, JPMorgan Chase, and Lehman Brothers, consolidating control through Delta Topco. During this era Formula One continued to expand its centralized commercial model. Related businesses such as Allsport Management, which controlled much of the trackside advertising and the Paddock Club hospitality operation, were brought into the wider structure. Formula Motorsport Limited was also acquired in 2007 and operated feeder categories intended to develop drivers and provide additional event content around Grand Prix weekends. The group considered an initial public offering on the Singapore Exchange in 2012 and again in 2013, but the planned flotation was delayed amid volatile financial markets and euro-area uncertainty. CVC also reduced its interest through sales to investment firms, including Waddell & Reed, BlackRock, and Norges Bank. Bernie Ecclestone remained the public face and chief executive of the commercial organization for roughly four decades, overseeing its evolution from team-centered negotiations into a sophisticated international media and event business. Liberty Media agreed to purchase control of Formula One Group in late 2016. The transaction closed on 23 January 2017 after regulatory clearance. Chase Carey became chief executive and executive chairman, and Ross Brawn was appointed managing director of motor sports and technical director. Liberty emphasized broader digital distribution, improved fan engagement, and more coordinated commercial development. In 2020 it announced that Stefano Domenicali would take over as chief executive; he began the role in 2021 and, according to the supplied reference material, remains president and chief executive. Carey became non-executive chairman. Brawn announced his retirement in 2022. The group's rights structure distinguishes the commercial rights holder from the operating and licensing companies. Formula One World Championship Limited holds the long-term commercial rights granted by the FIA and negotiates promoter and broadcasting contracts. Formula One Management produces and distributes the television world feed, supports logistics, and helps coordinate the commercial operation of race events. Formula One Licensing BV holds key trademarks, while associated companies manage advertising, hospitality, and feeder-series rights. In 2025, Liberty Media's acquisition of a majority interest in Dorna Sports broadened its motorsport portfolio to include MotoGP and the Superbike World Championship, while Formula One remained the group's core property.
- 2025
Dorna Sports is added to Liberty's motorsport portfolio
[1]Liberty Media acquires a majority interest in Dorna Sports, whose properties include MotoGP and the Superbike World Championship.
- 2021
Stefano Domenicali becomes chief executive
[1]Domenicali succeeds Chase Carey as the group's chief executive.
- 2017
Liberty Media acquisition closes
[1]Liberty Media completes its purchase of control of Formula One Group on 23 January.
- 2006
CVC consolidates a majority stake
[1]CVC completes further purchases and becomes the dominant owner through the Delta Topco structure.
- 2005
CVC begins acquiring control
[1]CVC Capital Partners announces acquisitions of major interests in SLEC.
- 1996
SLEC Holdings is created
[1]SLEC becomes the principal holding structure for Ecclestone's Formula One businesses.
- 1995
Long-term commercial rights arrangement is granted
[1]The FIA grants Formula One Administration a long-term concession covering the championship's commercial rights.
- 1987
FOPA is established
[1]Formula One Promotions and Administration is created to manage television rights and commercial administration for the teams.
- 1981
First Concorde Agreement settles the commercial dispute
[1]The agreement gives the teams' organization a formal role in negotiating television contracts.
- 1978
Bernie Ecclestone becomes an executive of FOCA
[1]Ecclestone takes a leading role in negotiations over the championship's commercial rights and television arrangements.
Products and positioning
A global premium motorsport and sports-media business that monetizes Formula One as a combined live-event, broadcasting, sponsorship, hospitality, licensing, and digital-entertainment platform.
Live sports championship
FIA Formula One World Championship
The group's core commercial property is the FIA Formula One World Championship. Formula One Group does not regulate the sporting rules, but it promotes the championship, contracts with race promoters, supplies event infrastructure, distributes media rights, manages commercial partnerships, and supports the international calendar. The property combines Grand Prix events with broadcast, digital, sponsorship, licensing, hospitality, and fan-engagement businesses.
Sports media
Formula One broadcasting and media rights
Formula One Management produces the television world feed for Grand Prix sessions and supplies it to authorized broadcasters for regional distribution. The business also encompasses digital content, media licensing, archive material, and other forms of Formula One programming. Broadcasting contracts are among the central commercial assets of the group and are negotiated with media organizations across international markets.
Hospitality
Formula One Paddock Club
The Paddock Club is Formula One's premium corporate hospitality offering. It provides VIP and sponsor guests with race-weekend hospitality, access to privileged viewing areas, selected team and driver experiences, and pit-lane or event access where available. The offering is designed to monetize the championship's premium live-event environment for commercial partners and high-value guests.
Licensing
Formula One licensing and trademarks
Formula One Licensing BV and related entities administer important intellectual-property assets, including Formula One names, logos, visual identities, and associated commercial marks. Licensing allows approved partners to use Formula One intellectual property across merchandise, promotional products, media, and other commercial categories.
Motorsport development · 2007
Formula Motorsport feeder series
Formula Motorsport Limited has operated feeder categories associated with the Formula One event platform, including GP2 and later development-series properties. These championships provide young drivers with competitive experience and exposure while adding supporting races and commercial content to selected Grand Prix weekends.
Controversies
2021
Formula One faces criticism over Belgian Grand Prix
Formula One faced criticism after the Belgian Grand Prix was run for only a few laps behind the safety car and half-points were awarded. Drivers and McLaren boss Zak Brown criticized the outcome and called for the rules to be reviewed.
2004
Bank litigation over control of Formula One
Banks holding interests connected with SLEC sued Bernie Ecclestone seeking greater control over the sport's commercial governance. A British court later ruled in favor of the banks' legal contentions, although Ecclestone maintained that the decision did not remove his practical control.
1999
European Commission competition investigation
The European Commission announced an investigation into the FIA, Formula One Administration, and International Sportsworld Communicators concerning alleged abuse of a dominant position and restrictions on competition in broadcasting and related rights arrangements.
Brand decisions
2025
Expand Liberty's motorsport portfolio through DornaM&ABackground
Liberty Media sought to broaden its position in global motorsport beyond Formula One.
Action taken
Liberty Media acquires a majority interest in Dorna Sports and places its MotoGP and Superbike commercial rights within the wider Liberty-controlled portfolio.
Aftermath
The transaction creates a larger motorsport platform while leaving Formula One and MotoGP as distinct championship properties.
2017
Transfer control to Liberty MediaM&ABackground
CVC-era ownership was replaced by a strategic media-company owner seeking to develop Formula One's global audience and digital business.
Action taken
Liberty Media completes the acquisition of Formula One Group and appoints a new executive leadership structure.
Aftermath
Formula One becomes part of Liberty Media's publicly traded tracking-stock structure and pursues broader media, digital, and fan-engagement initiatives.
Reported transaction value. $4.4 billion equity purchase price reported for the acquisition (2016-2017)
2006
CVC consolidates ownership of Formula OneM&ABackground
The collapse of earlier investment structures left important Formula One interests with creditor banks and other shareholders.
Action taken
CVC acquires major interests in SLEC and consolidates control through Delta Topco.
Aftermath
Formula One operates for the next decade under dominant private-equity ownership, with Ecclestone continuing as chief executive.
1987
Create FOPA to manage commercial operationsStrategyBackground
Following the second Concorde Agreement, Formula One required a dedicated organization to administer television rights and related commercial flows.
Action taken
Ecclestone establishes Formula One Promotions and Administration, later known as Formula One Management.
Aftermath
Commercial administration, media production, promoter relations, and team payments become increasingly coordinated under a single operating structure.
1981
Centralize television negotiations through the Concorde AgreementStrategyBackground
Television contracts had previously been fragmented, uncertain, and comparatively weak in commercial terms.
Action taken
The teams and governing authorities adopt an agreement giving the teams' representative organization a formal role in negotiating television rights.
Aftermath
The agreement becomes the foundation for Formula One's centralized commercial model and future team-revenue arrangements.
Recent events
- 2025
Liberty Media places MotoGP and Superbike rights within its motorsport portfolio[1]
M&A
Liberty Media acquired a majority interest in Dorna Sports, adding the commercial rights to MotoGP and the Superbike World Championship to its wider motorsport holdings.
- 2022
Ross Brawn confirms retirement from Formula One[1]
Leadership change
Ross Brawn confirmed that he was retiring from his Formula One leadership position.
- 2020
Stefano Domenicali appointed Formula One chief executive[1]
Leadership change
Formula One announced that former Ferrari team principal Stefano Domenicali would succeed Chase Carey as chief executive.
- 2017
Liberty Media completes Formula One acquisition[1]
M&A · Leadership change
The acquisition received regulatory approval and closed on 23 January 2017. Chase Carey became chief executive and Ross Brawn took a senior sporting and technical role.
- 2016
Liberty Media agrees to acquire Formula One Group[1]
M&A
Liberty Media announced an agreement to acquire control of Formula One Group in a transaction reported at approximately $4.4 billion for the equity interest, alongside assumed debt.
Sources3 sources
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