F1: Liberty Media Moves HQ to London’s St. James District

$LMCA

Liberty Media (NASDAQ:LMCA) will move the HQ of its Formula One racing series to London’s St James District in London, in a reflection of its growth ambitions.

F-1 is now moving the operation to larger facilities close to London’s iconic Piccadilly Circus.

The move comes after the completion of a $4.4-B takeover by Liberty Media Corp. in January.

The new 1,950 sqm offices in the GBP 400-M St James’s Market development close to several of London’s famous tourist sites provide “the perfect place to grow our international fan base,” F-1’s Sacha Woodward Hill said in an e-Mailed statement announcing the move.

Formula One during the last 50 years was the project of Bernie Ecclestone, 86 anni. He was named Chairman emeritus when American TV executive Chase Carey replaced him as CEO just after billionaire John Malone’s Liberty took control of the iconic motor racing series.

Mr. Carey said after the deal was announced that “some of the decision-making has not been efficient and effective in how do we manage the sport” and planned to create more value and new races in major cities around the world.

That effort will now be directed from St. James’s Market, a development co-owned by The Crown Estate and Oxford Properties.

The developers say the profile of its new tenant, Formula One attracts 400-M viewers will boost their project’s image.

“Attracting a world-leading business like Formula One is a great endorsement of our vision,” said Oliver Smith, Senior Asset Manager at The Crown Estate.

The 2017 Formula One Schedule (1st 5 races of the 20 race series)

  F1, Formula One, Liberty, LMCA, LMCB, London, media, St. James

The following two tabs change content below.

• Bio
• Latest Posts

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

Latest posts by Paul Ebeling (see all)

• The Street’s Key Stock Analysts Research Reports - November 17, 2019
• Commentary: Paul Ebeling on Wall Street - November 17, 2019
• ‘Joker’ Gets White House Screening - November 17, 2019