Formula One Group

Formula One Group

Formula One Group

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Description:
The Formula One Group is a group of companies responsible for the promotion of the FIA Formula One World Championship and exploitation of the sport's commercial rights. The Group is owned ultimately by Delta Topco, a Jersey–based company owned by CVC Capital Partners' funds (approximately 70%) and JPMorgan (approximately 20%). Bernie Ecclestone's family trust owns the remainder apart from small shares held by financial advisers and Ecclestone himself.

"Formula One Group" strictly refers to Formula One Management, Formula One Administration and Formula One Licensing BV, which are subsidiaries of the Formula One Holdings holding company. However Delta Topco owns other Formula One businesses which are referred to in the same way.

History

In 1974 the Formula One Constructors Association, or FOCA, was founded in order to increase commercial organisation of Formula One for the benefit of the racing teams. In 1978 Bernie Ecclestone became the executive of FOCA and fought the Fédération Internationale du Sport Automobile (FISA) for control of F1 commercial rights. Disputes were settled by March 1981 when the Concorde Agreement gave FOCA the right to negotiate TV contracts. Under previous arrangements, TV contracts were not very lucrative and were risky. When the Concorde Agreement ended in 1987, Bernie Ecclestone ceased being a team owner and established the Formula......
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