Electric racing has transformed the motorsport world, and many fans wonder who’s behind the Formula E championship. Liberty Global now holds a 65% controlling interest in Formula E. They acquired Warner Bros. Discovery’s shares in the all-electric racing series. The championship, officially known as the ABB FIA Formula E Championship, is managed by Formula E Holdings Limited (FEH), which serves as the owner and promoter of the competition.
Formula E’s founding story goes back to Spanish businessman Alejandro Agag, who created the series and remains involved with the company today. Other current shareholders include Selim Fouad alongside the majority stakeholder Liberty Global. This ownership structure brings significant media expertise to the electric racing championship, potentially helping it reach new audiences.
Key Takeaways
- Liberty Global has become the majority owner of Formula E with a 65% stake, positioning the electric racing series for future growth.
- Formula E Holdings Limited operates as the owner and promoter of the championship, managing its commercial aspects.
- The racing series maintains connections to its founder Alejandro Agag while developing strategic partnerships to expand its sustainable motorsport mission.
Ownership and Control
Formula E has experienced significant shifts in its ownership structure in recent years. The electric racing series now operates under new leadership with major media and telecommunications companies taking control.
Liberty Global’s Role
Liberty Global now holds the reins of Formula E, owning a 65% controlling stake in the all-electric racing series. This majority position came after they purchased Warner Bros. Discovery’s shares in mid-2024.
The acquisition reflects Liberty Global’s strategy of making long-term investments in promising entertainment properties. Mike Fries, CEO of Liberty Global, has emphasized the company’s approach of “disciplined capital rotation” when discussing this investment.
Liberty’s leadership team, influenced by media mogul John Malone, sees Formula E as a growth opportunity in the sports entertainment sector. While the exact purchase price wasn’t disclosed, industry experts view this as a significant commitment to the future of electric motorsport.
Warner Bros. Discovery Integration
Warner Bros. Discovery (WBD) has reduced its involvement in Formula E after selling its shares to Liberty Global. This transaction marked a major shift in the racing series’ ownership structure.
Before the sale, WBD was one of several key stakeholders in Formula E, alongside founder Alejandro Agag and other investors like Selim Fouad. The ownership transition required regulatory approval from various jurisdictions due to the international nature of the racing series.
The deal demonstrates how media companies are reevaluating their sports investments. For Formula E, this change brings new opportunities as Liberty Global has experience in developing sports properties for global audiences.
Jeff Dodds, representing Liberty’s interests, has been actively involved in shaping the future strategy for the racing championship.
Sustainability and Growth
Formula E has positioned itself as a leader in sustainable motorsport while experiencing remarkable business growth. The racing series combines environmental responsibility with expanding market presence, creating a unique model for sporting ventures.
Promoting Sustainability Standards
Formula E has embedded United Nations Sustainable Development Goals within its environmental strategy. This commitment goes beyond surface-level efforts. In Season 6, the organization invested in renewable energy projects in race markets to offset all unavoidable emissions since its inception.
The racing series partnered with Climate Group in Season 4 to advance their joint vision for a net zero emission future. This collaboration strengthens Formula E’s sustainability standards.
Teams within Formula E also prioritize eco-friendly practices. For example, Envision Virgin earned several sustainability accolades under their leadership, demonstrating how individual teams contribute to the overall mission.
Expansion and Future Prospects
Formula E has seen exponential growth since its launch, expanding to new markets and attracting major manufacturers. The series continues to add race locations in key global cities, increasing its visibility and fan base.
Long-term investments from partners like ABB and DHL have helped Formula E develop its business model. These partners aren’t just sponsors – they’re actively involved in pioneering net zero sport and embedding ESG practices into global competition.
The regulatory approval process for new tracks and technologies presents both challenges and opportunities. Formula E works closely with local governments to ensure compliance while promoting sustainable transport solutions.
Their ventures portfolio continues to diversify, with investments in green technologies that extend beyond racing. This approach helps secure Formula E’s future as both a sporting event and a platform for sustainability innovation.
Competition in Electric Motorsport
The electric motorsport landscape has evolved rapidly, with Formula E leading the charge in sustainable racing. This competitive arena showcases both established automotive giants and new players developing cutting-edge electric vehicle technology.
Formula E vs Traditional Racing Classes
Formula E differs greatly from traditional racing classes like Formula 1. While F1 focuses on raw speed and aerodynamics, Formula E emphasizes energy management and efficiency on street circuits in urban centers.
Traditional Motor Racing classes like DTM, Touring Car championships, and Le Mans have histories spanning decades, while Formula E only began in 2014.
Racing strategy also differs significantly. Formula E has been described as a high-speed game of chess, requiring careful energy management throughout the race.
Unlike the fuel-focused pit stops in traditional racing, Formula E originally featured car swaps mid-race due to battery limitations. Now, improved technology allows drivers to complete races with a single car.
Notable Racing Teams and Manufacturers
Major automotive manufacturers have embraced Formula E as a platform to showcase their electric technology. Porsche and Audi were early adopters, using the series to develop and test EV systems.
Team ownership has seen interesting developments. Recently, ERT Formula E Team was acquired by The Forest Road Company and rebranded as Kiro Race Co.
Similarly, Liberty Global acquired a controlling stake in Formula E in 2024 by purchasing shares previously owned by Warner Bros Discovery.
ABT Sportsline, known from DTM racing, has partnered with SEAT’s performance brand Cupra in Formula E, showing how traditional racing teams are transitioning to electric motorsport.
Strategic Partnerships and Investments
Formula E has grown through significant partnerships with major investors and technology companies that have shaped its development. These relationships have provided both financial backing and technological innovations that keep the series at the cutting edge of electric motorsport.
Private Equity and Stakeholders
The Public Investment Fund (PIF) has created a multi-year partnership called Electric 360 with Formula E. This collaboration supports the growth of electric motorsports and demonstrates the increasing value investors see in sustainable racing.
Formula E has also attracted diverse ownership groups. For example, Kiro Race Co, the newest Formula E team, recently announced an expanded ownership group of global business leaders and strategic investors.
Liberty Media, known for owning Formula 1, has shown interest in electric racing but hasn’t yet made significant investments in Formula E. Instead, the series has focused on disciplined capital rotation with various private equity partners.
Technology and Powertrain Developments
Formula E has made strategic investments in related series like Extreme E. Formula E CEO Jamie Reigle also took a seat on the Extreme E Board of Directors. This partnership strengthens their shared mission to promote sustainable racing technologies.
Powertrain development remains central to Formula E’s strategy. Major manufacturers collaborate with teams to test and improve electric vehicle technology.
Media partnerships are also critical to Formula E’s growth strategy. They recently formed a strategic partnership with Red Bull Media House to expand their reach in German-speaking markets.
These technology partnerships help Formula E maintain its position as a testing ground for innovations that eventually reach consumer electric vehicles.
