A fan can follow one championship while three different kinds of organizations shape what happens on and off the track. You see drivers race for teams, but separate groups manage the sport’s business and make its rules.
Knowing who owns F1 helps make sense of headlines about investors, contracts, and rule changes. The story includes Bernie Ecclestone’s long control of its commercial business, Liberty Media’s later ownership, and today’s mix of team owners.
Those roles can sound alike, yet they are not the same. One organization manages commercial rights, the FIA regulates the championship, and separate owners run each racing team.
Key Takeaways
- Liberty Media owns the Formula One Group, which manages the sport’s commercial business.
- The FIA regulates and sanctions the championship; it is not owned by Liberty Media.
- F1 teams have their own owners, including manufacturers, private groups, and investors.
- Bernie Ecclestone controlled the commercial business for decades, but did not own every team.
- Shares and voting rights can give owners different levels of influence.
Knowing which entity owns the rights, which body makes the rules and which companies own the teams makes F1’s history easier to follow.
Who Owned F1?
Liberty Media owns the Formula One Group, the business responsible for promoting the championship and exercising its commercial rights. Today, that means Liberty owns the commercial business, not the FIA or every racing team.
Commercial rights are the contractual rights to promote, broadcast, license and earn revenue from a championship. Liberty Media bought the Formula One Group in 2017, after Bernie Ecclestone had controlled Formula One’s commercial rights.
Liberty owns the commercial business, the FIA regulates the championship, and separate owners run the teams.
Ecclestone’s control concerned contracts and commercial activity. It did not mean he owned the FIA or every competitor on the grid.
The distinction matters when you read about a deal or a change in leadership. A company can own the business that sells broadcast rights without owning the cars competing in the series.
Liberty Media is the owner of the Formula One Group, while the FIA remains a separate governing body. Team owners also make decisions about their own racing operations.
A quick way to keep the distinction straight is to treat Liberty as the commercial owner, the FIA as regulator and the teams as separately owned competitors.
What Does Liberty Media Own and Operate?
The Formula One Group is a collection of businesses, not a single office that performs every job in the sport. Within it, different companies hold rights, manage events, and handle broadcasting.
Formula One World Championship Limited (FOWC) holds Formula One’s commercial rights. It began controlling them in 2011 under a 100-year grant, and it handles rights contracts.
Formula One Management (FOM) is the operating company. It manages broadcasting, promotion, and race organization for the championship.
Liberty Media’s annual report describes Formula 1 as a consolidated subsidiary and the Formula One Group as a tracking-stock group. Read the Liberty Media 2023 annual report for that corporate structure.
Formula One Group tracking stocks trade on Nasdaq as FWONA and FWONK. Those shares track the group’s performance; they do not represent ownership of each team.
The group’s reach also grew beyond Formula 1. In 2025, Liberty Media acquired a majority of Dorna Sports, and MotoGP Sports Entertainment Group became a listed 84% subsidiary.
That deal shows how a sports business can own rights and operating companies across more than one racing series. Team ownership remains a separate question from group stock ownership.
When a broadcast, race promotion or licensing deal is at issue, the relevant operating or rights-holding company matters more than the name on the team’s car.
How Did Bernie Ecclestone Gain Control?
Ecclestone’s route to power began by organizing the teams around a shared commercial interest. Rather than owning the whole sport, he helped them bargain together over money and television.
The Formula One Constructors’ Association (FOCA) formed in 1974. Ecclestone became its executive in 1978, as teams sought more influence over race revenue and television deals.
FOCA’s efforts brought it into conflict with FISA, the governing body then responsible for the sport’s rules. The Concorde Agreement helped settle that dispute by setting out how teams and organizers would share responsibilities.
Four milestones show how that influence grew:
- 1974: The Formula One Constructors’ Association was founded.
- 1978: Ecclestone became FOCA’s executive.
- 1981: The Concorde Agreement gave FOCA the right to negotiate television contracts.
- 1987: Ecclestone created FOPA and the Formula One Group.
FOCA and the fight over television rights
Television could bring teams money and reach new fans. FOCA’s shared negotiating role gave team owners more power than separate talks would have offered.
The 1981 agreement did not make FOCA the regulator. It gave the teams a formal role in commercial negotiations, while rulemaking stayed separate.
From FOCA executive to commercial power
In 1987, Ecclestone founded the Formula One Promotions and Administration company, or FOPA. FOPA, later known as FOM, managed television rights for teams.
So, did Bernie Ecclestone own F1? He controlled its commercial rights and business for decades, but that was not the same as owning the governing body or every team.
The 1981 Concorde Agreement gave FOCA a formal negotiating role in television, turning collective team leverage into commercial power.
How Did F1’s Commercial Rights Change Hands Before Liberty?
Before Liberty Media arrived, F1 passed through a layered holding-company structure rather than a simple owner-to-owner sale. Holding companies owned shares in other companies, which held the commercial business.
SLEC was created as a holding company in 1996, with Ecclestone family interests behind it. In the 2000s, EM.TV and Kirch took stakes, followed by creditor banks after financial trouble.
The key shifts involved investors buying shares in companies above the rights business. The FIA’s role as regulator did not change when those corporate shares changed hands.
| Period | Main ownership or control | Key change | Meaning for F1 |
|---|---|---|---|
| 1996 | SLEC and Ecclestone family interests | SLEC formed as a holding company | Commercial business held through a company |
| 2000s | EM.TV, Kirch, and creditor banks | Financial distress shifted share control | Creditors gained influence over the holding structure |
| 2005-06 | CVC Capital Partners | CVC built a majority stake | Corporate ownership changed, not FIA regulation |
| Later CVC period | CVC and Waddell & Reed | CVC reduced its stake; a 2012 IPO stalled | Part of the company moved to outside investors |
CVC acquired shares from Bambino Holdings and BayernLB in 2005. In December 2005, it also acquired JPMorgan Chase’s shares.
In 2006, CVC bought Lehman Brothers’ 14.1% holding, bringing its ownership to 63.4%. That gave CVC a majority corporate position in the business.
CVC later cut its holding to 35.5%, and Waddell & Reed became a major shareholder after buying part of its stake. A planned 2012 Singapore IPO valued the company at $10 billion and proposed listing up to 30% of its shares.
The public offering did not proceed as planned. The key pre-Liberty change was CVC becoming the majority owner, then reducing its stake while the planned public listing stalled.
What Was in Liberty Media’s F1 Takeover?
Liberty’s 2016 agreement put Formula One’s enterprise value at $8.0 billion and its equity value at $4.4 billion. Those figures differ because enterprise value and equity value measure different parts of a company’s value.
The deal unfolded in stages. Liberty first bought a minority stake while CVC remained the controlling shareholder, then planned to acquire the company that held the commercial business.
The 18.7% purchase in 2016 was an initial step, not the completed takeover. Liberty paid $746 million for that stake before the full deal closed.
| Deal detail | Figure or condition | What it means |
|---|---|---|
| Enterprise and equity values | $8.0 billion and $4.4 billion | Two different measures of company value |
| Initial Liberty purchase | 18.7% stake for $746 million in 2016 | A minority stake before closing |
| Planned company acquisition | 100% of Delta Topco, subject to closing conditions | Full ownership depended on deal completion |
Liberty and CVC announced the deal in September 2016. Their acquisition announcement set out the price measures and planned structure.
The agreement said the CVC-led seller group would own about 65% of Formula One Group equity after the deal. It also provided for that group to have board representation.
That proposed seller stake described the deal’s post-closing arrangement, not the group’s current ownership. The initial purchase and full acquisition were separate steps in the transaction.
Bernie Ecclestone was CEO when the deal was announced, and Chase Carey was appointed chairman. The acquisition became complete in January 2017, after the agreement’s closing conditions were met.
Who Leads the Formula One Group?
Stefano Domenicali is Formula 1’s president and CEO, while Chase Carey serves as the Formula One Group’s non-executive chairman. These jobs differ: the CEO runs the business, while the chair leads board oversight.
The F1 CEO list runs from Bernie Ecclestone to Chase Carey to Domenicali. Ecclestone held the role when Liberty announced its deal in 2016.
Carey took the chief executive role after the acquisition. Domenicali became CEO in 2021, and Carey later served as non-executive chairman.
The Formula One Group board of directors provides oversight, while the CEO manages daily business. Knowing who chairs the board does not tell you who handles each operating decision.
Domenicali’s title combines president and CEO. Carey’s chairman title does not mean he runs daily racing, broadcast, or promotion work.
Leadership titles can also change while ownership stays the same. A shift in the top job is not, by itself, a sale of the group.
A CEO runs the business, while a non-executive chairman leads board oversight rather than day-to-day operations.
Who Owns the FIA, and What Does It Control?
The FIA is not owned by Liberty Media; it is the governing body that sanctions and regulates Formula 1. It is a federation, not a subsidiary of the Formula One Group.
The FIA sanctioned the first Formula One World Championship season in 1950. Its role is distinct from commercial promotion and the teams’ work on track.
The FIA sets and enforces rules; the Formula One Group manages commercial activity. The FIA’s main roles include:
- Setting and enforcing sporting regulations.
- Sanctioning the world championship.
- Licensing and overseeing safety in competition.
Sanctioning gives the series its official world championship status. The FIA also oversees competition rules that shape how teams and drivers race.
The FIA does not own the teams or the commercial rights. The 2026 grid has 11 teams, each competing under the championship’s rules.
If the question is who makes the rules, look to the FIA; if it is who runs the commercial business, look to the Formula One Group.
Are F1 Teams Owned by Liberty Media?
No, Liberty Media does not own all the F1 teams; it owns the Formula One Group that promotes the championship and manages its commercial rights. Teams are separate businesses that enter the series.
Ferrari, Mercedes, and Red Bull are examples of team operations with ownership separate from Liberty Media. Owners may be manufacturers, private groups, or investment partners.
A racing team can compete in the championship without belonging to its commercial owner. The main roles are easy to compare:
| Entity | Who owns or controls it | Main responsibility |
|---|---|---|
| Formula One Group | Liberty Media | Commercial operations |
| FIA | Federation and regulator | Regulation and sanctioning |
| Individual F1 team | Its own parent or investors | Entering a team in the championship |
Each team builds or prepares a car, hires drivers, and runs its racing operation. Its owner can decide how much to invest and how the company is managed.
Team names do not always reveal the legal owner. A name may refer to a manufacturer, a brand, a sponsor, or a racing company.
A team can compete in Liberty’s championship without being part of Liberty Media.
Who Owns Each F1 Team in 2026?
The 2026 grid has 11 teams, and their ownership ranges from manufacturers and brand groups to private investors and individual proprietors. Some have several owners, so a team name rarely tells the whole story.
McLaren won the Teams’ Championship in 2024 and 2025, while Lando Norris won the Drivers’ Championship in 2025. Ownership and results are separate, even when a team’s success draws more attention to its investors.
Manufacturers and publicly held businesses
Ferrari operates its own team, linking the racing operation closely to the carmaker. Mercedes has three equal owners: Mercedes-Benz, INEOS, and Toto Wolff.
Audi is entering with a minority investment from Qatar Investment Authority. The team remains linked to the manufacturer, while the investment adds another party.
Brand groups and private owners
Red Bull Racing and Racing Bulls are both owned by Red Bull GmbH. Gene Haas owns Haas, making it a clear proprietor-led operation.
These examples show why the racing name, the company name, and the owner may differ. A brand can support a team without being the legal owner.
Investor-backed partnerships
McLaren Racing is owned by Bahrain’s Mumtalakat and Abu Dhabi’s CYVN. Mumtalakat is the majority shareholder, while CYVN’s exact percentage is undisclosed.
Cadillac has GM equity and TWG control, with no exact ownership split stated. Alpine is owned by Renault Group and an Otro-led group, while Dorilton Capital owns Williams.
Aston Martin is controlled by Stroll-related interests. Its team identity is connected to the car brand, but its ownership involves private interests.
Six examples make the range clear:
- Ferrari: the manufacturer operates its own team.
- Mercedes: Mercedes-Benz, INEOS, and Toto Wolff share ownership.
- Red Bull Racing: owned by Red Bull GmbH.
- Haas: owned by Gene Haas.
- McLaren: owned by Mumtalakat and CYVN.
- Williams: owned by Dorilton Capital.
Check whether a team’s name belongs to its owner, a sponsor or a manufacturer before assuming those roles are the same.
How Do Team Ownership and Voting Control Differ?
A share percentage measures economic ownership, but voting rights and governance agreements determine who can make key decisions. Money and control can follow different paths inside the same company.
Mercedes, Alpine, and Ferrari offer useful examples. Their ownership percentages do not tell the whole story about who can shape major decisions.
Economic ownership measures a financial stake; voting power measures influence over company choices.
| Example | Economic ownership | Voting or governance control |
|---|---|---|
| Mercedes | Equal thirds held by Mercedes-Benz, INEOS, and Toto Wolff | Wolff sold a 5% stake to George Kurtz in 2025 |
| Alpine | Renault Group 76%; Otro-led group 24% | Renault holds the majority stake |
| Ferrari | Exor 21.33%; Piero Ferrari’s trust 10.67% | Exor holds 32.32% of votes; the trust holds 16.17% |
George Kurtz bought a 5% Mercedes stake from Wolff for €258 million in 2025. That sale changed Wolff’s economic interest, while he continued as a team leader.
Renault Group owns 76% of Alpine, following the Otro-led group’s €200 million investment in 2023. The majority stake gives Renault the larger economic position.
Ferrari’s loyalty voting structure gives some long-term shareholders more votes than their share of the company alone might suggest. As of February 2026, Exor held 21.33% of ordinary shares but 32.32% of voting power.
Piero Ferrari’s trust held 10.67% economically and 16.17% of the votes. For another example of how shares and votes can differ, see this explanation of SpaceX share and voting rights.
Before calling someone the majority owner, check both the share percentage and the voting rights attached to it.
Why Do Companies and Investors Buy F1 Teams?
F1 team owners commonly enter the sport to race, to strengthen another business or to invest in the team as an asset. Those goals can overlap, but each points to a different reason for buying in.
Some owners want the sporting challenge itself. Others want racing to support a brand, while investors may focus on the team’s long-term value.
Racing as the main goal
A proprietor may want to build a strong team and compete for results. Gene Haas is a clear example of an owner whose name and personal role connect closely to the team.
For these owners, the season brings a steady test of people, engineering, and leadership. A championship is the visible reward, but the work continues through every race weekend.
Racing as a way to support another business
A company can use a team to make its brand familiar around the world. Red Bull bought Jaguar Racing in 2005 and created a team in its own name.
That move connected the team to a wider business, while racing gave the brand a high-profile place on the track. The company could pursue wins and build its name at the same time.
Racing as an investment
An investor may buy a stake because the team itself can become more valuable. Williams’ founder-led past contrasts with its current private-investment ownership under Dorilton Capital.
Investment owners may bring money, business skills, or new partners. Their aims can differ from those of a manufacturer or an owner who wants to race personally.
- Sporting owners focus on building a team and winning races.
- Brand owners connect racing with a wider business.
- Investors seek value in the racing operation itself.
The most useful clue to an owner’s motive is whether the team’s racing success serves a separate business, the owner’s personal ambition or the investment itself.
What Does Mercedes Team Ownership Reveal About Toto Wolff’s Wealth?
Toto Wolff’s wealth is closely tied to his ownership and leadership role at Mercedes, not simply to being a team principal. His influence has two sides: a stake in the team and an executive job.
Wolff became Mercedes team principal in 2013 and acquired a 30% stake that year. His team-principal role also includes serving as CEO.
His reported net worth was around €2.3 billion in 2026, but that figure is an estimate. It is not a confirmed balance sheet of his assets.
Ownership can grow in value as a business changes, while a CEO or team principal earns influence through leadership. Those roles are related, but they are not the same source of value.
In 2025, Wolff sold a 5% Mercedes stake to CrowdStrike CEO George Kurtz for €258 million. The deal turned part of his team stake into money while Wolff remained a team leader.
A share sale shows the value agreed for that portion of the company at that time. It does not set the exact value of every asset held by the seller.
His leadership role also brings responsibility for team operations and strategy. That professional role should not be confused with his private investment in the team.
Treat reported net worth as an estimate and read it separately from the value of a particular share transaction.
How Has F1 Ownership Shifted From Team Founders to Investors?
F1 team ownership has moved from the founder-proprietor model toward a grid where racing teams can attract several kinds of capital. The older model remains, but it now sits alongside manufacturers and investors.
Frank Williams and Patrick Head co-founded Williams in 1977, and Williams held the majority share. Dorilton Capital acquired the team in 2020, changing its ownership without erasing its history.
Founder-led teams built around racing
Early founder-led teams often grew from people who built their lives around racing. Their identity came from the owner’s work, the team’s staff, and its record on track.
That structure could place major decisions with a founder or a small group. Williams’ origins show how personal ambition could shape a team’s name and direction.
Corporate owners joined the grid
As manufacturers and larger companies entered, a team could serve goals beyond race results. A company might use its racing operation to support a brand, test engineering, or compete for championships.
Corporate ownership added more ways to fund and run teams. It did not mean every company had the same reason for entering the sport.
Institutional investors took minority stakes
Modern ownership can include investment firms that buy part of a team instead of taking full control. Some owners sell a minority stake while keeping a role in governance or management.
Three shifts stand out:
- Team ownership now commonly includes multiple investors.
- Some owners sell minority stakes while retaining governance influence.
- A team can be both a sporting operation and an investment asset.
The modern pattern is not the disappearance of founder ambition, but its coexistence with manufacturers, private groups and investment firms.
What Do Driver Wealth and Family Backgrounds Have to Do With Ownership?
A driver’s estimated fortune does not tell you who owns the team he drives for. Personal wealth and team ownership are separate, even when a driver invests in motorsport.
Lewis Hamilton is described as the wealthiest active Formula 1 driver, with an estimated net worth between $300 million and $500 million. Michael Schumacher’s estimate is higher, at $600 million to $800 million.
Family finances differ among drivers. Karting and junior racing can require substantial resources, but that does not mean every driver comes from a rich family.
Driver wealth is separate from team ownership
A driver’s estimate concerns personal wealth, while a team’s value belongs to its company and owners. A driver may race for a team without owning any part of it.
Results, contracts, and business ventures can affect a driver’s personal finances. Those details do not establish who controls the team’s car or company.
Max Verstappen’s family and early racing
Max Verstappen grew up around motorsport. His father, Jos, raced in Formula 1 from 1994 to 2003 and scored two podiums.
His mother, Sophie Kumpen, was a top-level karter. As a teenager, she competed against Jenson Button and Jarno Trulli.
Max began karting at four and a half and entered his first kart race at age seven. Jos said he devoted himself fully to Max’s racing career after his own F1 career ended in 2003.
Those facts show a family with deep motorsport experience and early racing support. They do not establish a verified figure for the family’s wealth when Max was a child.
For Max Verstappen, the documented picture is an early start and racing experience in both sides of his family, not a reliable net-worth label for his childhood.
Conclusion
F1’s ownership story is easier to understand once commercial control, regulation and team ownership are kept separate. Liberty Media owns the Formula One Group, the FIA regulates the championship, and separate owners run each team.
When you see an ownership claim, check whether it concerns the Formula One Group, the FIA, or a particular team’s legal owner. That one step can prevent a commercial deal from being mistaken for a team sale.
Before repeating an ownership claim, identify the exact company or governing body it refers to.
FAQ
Who is the richest F1 family?
The Yoovidhya family is a prominent F1-linked family, with a 49% interest in Red Bull GmbH. That ownership connects the family to the company that owns Red Bull Racing and Racing Bulls. A company stake does not rank each family member’s personal wealth, though. Family assets, ownership arrangements, and individual finances are different measures.
Is Toto Wolff a billionaire?
Yes, Toto Wolff’s estimated net worth was around €2.3 billion in 2026. That figure is an estimate, not a confirmed account of every asset or debt he holds. His Mercedes stake helps explain the estimate, alongside his work as team principal and CEO. A net-worth estimate should not be treated as the price of his entire team share.
Who was the first billionaire in F1?
Bernie Ecclestone is generally credited as F1’s first billionaire. His wealth grew alongside his long control of the sport’s commercial business, including television and promotion deals. That personal wealth is different from formal ownership of the championship, the FIA, or every team. Ecclestone’s commercial power came through business rights and company structures.
Who is the wealthiest F1 driver?
Michael Schumacher’s estimated net worth is $600 million to $800 million. Lewis Hamilton is described as the wealthiest active driver, with an estimate between $300 million and $500 million. Schumacher’s career and wealth estimates are not the same as current driver status. Personal wealth estimates also differ from the value of a team or its owners’ shares.
Why is Toto Wolff so rich?
Wolff’s wealth is tied in part to his Mercedes stake and his roles as CEO and team principal. In 2025, he sold a 5% stake to George Kurtz for €258 million. That deal turned part of his ownership into money, while he stayed in team leadership. His estimated net worth is not the same thing as the price of that one share sale.
Is every F1 driver from a rich family?
No, drivers come from families with different finances and levels of support. Karting and junior racing can cost a great deal, so sponsorship and family help may matter. Those costs do not prove that every driver grew up rich. A driver’s background, later earnings, and team ownership are separate parts of the sport.
Was Max Verstappen born rich?
Max Verstappen’s parents had deep motorsport experience, and he began karting at four and a half. His father raced in Formula 1, while his mother competed at a high level in karting. Those facts show early access to racing knowledge and support, but they do not establish a verified family-wealth figure. Motorsport experience is not proof of a particular net worth.
