Formula One Group (FWONA) Investor Day 2025 summary

Strategic direction and business developments

• Liberty Media completed the split-off of Liberty Live, effective December 15, simplifying its structure and enhancing liquidity for both entities.

• Closed the MotoGP acquisition on July 3, 2025, expanding the sports portfolio and global reach.

• Leadership transitions include Derek Chang as CEO and John Malone as Chairman Emeritus, with Dobb Bennett becoming chairman in 2026.

• Corporate simplification included the Liberty Trip merger, GCI Liberty spin-off, and Liberty Broadband Charter merger, aiming for operational efficiency.

• Capital allocation remains opportunistic, focusing on investing in existing businesses and exploring new synergistic opportunities.

Formula One: Growth, financials, and future outlook

• Formula One achieved record financial performance, with 2025 YTD revenue up 9% and adjusted EBITDA up 15%, and nearly $16 billion in future revenue under contract.

• Attendance reached a record 6.7 million, up nearly 60% from pre-COVID levels, with over half of events sold out and strong engagement from younger and more diverse fans.

• Strategic partnerships expanded, including a major U.S. media rights deal with Apple, a 10-year deal with LVMH, and new sponsorships with Disney and Lego.

• The new Concorde Agreement for 2026-30 is signed, providing stability through 2030 and introducing a simpler payout structure for teams.

• Sustainability initiatives delivered a 26% reduction in carbon emissions since 2018, with a goal of net zero by 2030.

MotoGP: Brand evolution and commercial expansion

• MotoGP launched a new brand identity and held its first global season launch in Thailand, with plans for Kuala Lumpur in 2026.

• The 2025 season featured a record 22 Grand Prix, returning to Hungary and the Czech Republic, and saw a record 3.6 million fans in attendance.

• Global fan base reached 632 million, with significant growth in the U.S. (up 38%) and U.K. (up 10%).

• MotoGP is expanding into Brazil (2026) and Buenos Aires (2027), with multiple race renewals through 2031.

• Major technical changes are planned for 2027, including smaller engines, reduced aerodynamics, 100% sustainable fuels, and enhanced safety.