It could only get the $80 million if F1 changed hands and this required the FIA’s approval. Liberty needed its approval to buy F1 and CVC needed it to sell its 38.1% stake which netted it a cool $3 billion. The exception was that if F1 was floated on a stock exchange the FIA didn’t need to give its approval. Accordingly it put CVC on a course to exit F1 through a sale and Liberty ended up being the lucky buyer. If the F1 takeover stays on track then Liberty’s shareholders will have no reason to complain but if it skids off course it is likely they will start asking questions.

Source: Forbes February 06, 2017 21:45 UTC