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Liberty Media offer cash advances to cushion blow to teams
Commercial rights holder Liberty Media has offered Formula 1 teams cash advances to cushion the blow of reduced revenues caused by increased investment in the sport, Red Bull team boss Christian Horner revealed on Friday in Abu Dhabi. US-based Liberty took over Formula 1 in January and has been spending on infrastructure and putting a marketing operation in place. Horner told reporters at the season-ending Abu Dhabi Grand Prix that the rights holder had made 'a very generous offer, to those teams that want to take it.' He said Liberty would 'effectively advance monies to ensure that the money next year available to the teams is the same as this year…on an interest-free basis.'...
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7y ago from GrandPrix247.com
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