Liberty Media Corporation’s Liberty Formula One Group, represented by the Series C Liberty Formula One common stock (NASDAQ: FWONK), is a tracking-stock group tied primarily to the company’s interests in Formula 1. The group’s principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.
Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions. Its activities include coordinating the championship calendar, managing commercial partnerships and media distribution, supporting teams and race organizers, and developing fan-focused content and experiences. Formula 1 reaches a global audience through television, streaming, social media, licensing and live events.
Liberty Media acquired Formula 1’s parent company, Delta Topco, in 2017. Liberty Media’s tracking-stock structure is designed to reflect the performance of a designated group of assets without creating a separate legal entity. The Liberty Formula One Group has also been associated with Liberty Media’s motorsports investments, including its acquisition of MotoGP owner Dorna Sports, which was completed in 2025. Liberty Media is led by President and Chief Executive Officer Derek Chang, while Formula 1 is led by President and Chief Executive Officer Stefano Domenicali.
