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Liberty Media moves to shore up F1 finances

A general view as Max Verstappen leads the field at the start during the F1 Grand Prix of Brazil (Photo by Mark Thompson/Getty Images)

Formula One Group owner Liberty Media has announced that it has reattributed its stake in Live Nation Entertainment from the sport to its SiriusXM tracking stock in a move that will see $1.5bn (€1.39bn) in net asset value go in each direction.

Liberty confirmed the move in a statement yesterday (Thursday) and the reattribution is effective immediately. The company has also announced that some F1 teams have received advanced payments to help deal with financial difficulties they are facing due to Covid-19.

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