Malone Surrenders F1 Voting Control
Liberty Media founder John Malone has sold his high-vote Series B common stock to the parent company, dropping his voting power from 48% to 3% according to The Race.
The transaction, announced in November 2026, effectively ends the financier’s long-held grip on the corporate voting structure.
Deadline.com reported that Liberty acquired the shares after Malone received unsolicited offers from third parties. The company exchanged his high-vote stock for low and no-vote shares, aligning his voting power more closely with his economic ownership.
Malone founded Liberty Media and stepped down as chairman of the board in 2026. This shift comes nine years after the company acquired Formula 1 for $4.6 billion USD (£3.4bn).
Board Restructures Voting Power
Liberty Media president and CEO Derek Chang explained during a quarterly earnings call that Malone had controlled many votes while maintaining a relatively low economic interest. According to Chang, the purchase helps the company control its own destiny forward.
Deadline.com reported that board chair Robert Bennett stated the deal simplifies the corporate capital structure and provides flexibility for future chapters. Chase Carey, who chaired a special committee that explored the transaction, said it prevents a large voting block from transferring to an outside third party without other shareholders participating.
No individual holder of Liberty Media common stock now retains more than 9% of the total voting power. The board also authorized a rights plan through November 2027 to promote stability and prevent any single group from acquiring control without board involvement.
Prior Suitors and Future Valuation
Malone remarked on the Opening Bid Unfiltered finance podcast that Liberty remained open to selling F1 if a buyer exceeded board expectations, with the Saudi Arabian Public Investment Fund previously listed among interested parties. The Race noted that F1 net worth reached nearly $28 billion as of late 2026, with Forbes valuing individual teams at an average of $3.6 billion in 2025.
“It's a public company. If somebody gets carried away, and they want to buy it, and they're willing to pay more for it than the board thinks that they can deliver to the shareholders, then we would sell it. That's the bottom line,” Malone said.
Chang clarified during the earnings call that leadership is not considering a sale in 2026. Executives remain focused on investing in current business operations and growth plans.
Liberty also expanded its sports portfolio in 2025 by completing an 84% stake acquisition in MotoGP commercial rights holder Dorna for approximately $3.3 billion (€3.02bn). Malone will step down as chairman emeritus of Liberty Media following the share exchange but will remain as a senior advisor.
Frequently Asked Questions
How much was F1 worth when Liberty Media acquired it?
Liberty Media acquired F1 for $4.6 billion USD (£3.4bn), nine years before founder and ex-chairman John Malone stepped down as chairman of the board.
What percentage of voting power does Malone hold now?
Malone’s voting power dropped from approximately 48% to 3% after Liberty Media exchanged his high-vote stock for low-vote shares.
Is Liberty Media currently planning to sell Formula 1?
Company executives stated during a Q3 earnings call that there is no active consideration of a sale, with CEO Derek Chang emphasizing that management remains focused on growing existing businesses.
Related reading