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F1 teams say new owners need time to develop strategy
Formula One teams have welcomed the commercial takeover of the sport by American company Liberty Media and the prospects of improving the product on and off the track, while cautioning that such changes won't come any time soon. This weekend's Singapore Grand Prix is the first since Liberty struck an agreement for an $8 billion staged takeover of the sport, with controlling shareholder CVC Capital selling out and minority shareholders to follow. The new Liberty-installed chairman of F1 is Chase Carey, an American who formerly ran 21st Century Fox. Accompanied by long-term F1 commercial chief Bernie Ecclestone -- who will stay on for the short term under the new owners -- Carey...
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9y ago from F1Pulse.com
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