ABU DHABI (Reuters) - Commercial rights holder Liberty Media has offered Formula One teams cash advances to cushion the blow of reduced revenues caused by increased investment in the sport, Red Bull team boss Christian Horner said on Friday. U.S.-based Liberty took over Formula One 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. "They’ve offered to basically fund that bridge for those teams that wish to take it," he added, without giving more details.

Source: The Star November 24, 2017 20:37 UTC