With the 2026 Formula 1 season on the horizon, Liberty Media CEO Greg Maffei is preparing for intense negotiations over the renewal of the Concorde Agreement. Maffei discusses the complexities of this three-way pact, including the battle over team numbers, race schedules, and the balance between historical venues and new markets.
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Since acquiring Formula 1 in 2017, Liberty Media has made significant strides in transforming the sport, as highlighted by the company’s president Greg Maffei. From embracing social media to enhancing the fan experience, the new regime has capitalized on the ‘low-hanging fruit’ left by the previous administration. However, Maffei warns that complacency is a threat, and the sport must continue to evolve to maintain its competitiveness and sustainability.
Formula 1 stakeholders have commenced negotiations for the crucial next Concorde Agreement, which will govern the sport from 2026 to 2030. With a shift in approach from past divide-and-conquer tactics, Liberty Media’s CEO emphasizes a collaborative mindset to grow the sport and ensure all parties benefit from its continued success.