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

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

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)

# Date Race Winner/Time (*)
1
Mar 25
Australian Grand Prix
10:00 PM
2
Apr 8
Chinese Grand Prix
11:00 PM
3
Apr 16
Bahrain Grand Prix
8:00 AM
4
Apr 30
Russian Grand Prix
5:00 AM
5
May 14
Spanish Grand Prix
5:00 AM
*All times are in PT

I will cover all of this seasons races so stay tuned…

Have a terrific weekend.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.