News Details
Carey: We've successfully eliminated a $1-billion tier of debt
Formula 1 chief Chase Carey has revealed that a $1-billion debt has been eliminated as shown in the Liberty Media financial results for the second quarter of this year. Carey confirmed, 'We've successfully eliminated an expensive $1-billion tier of debt, repriced our remaining debt, and have also received upgrades from the ratings agencies. The combined effects of which will be to reduce annual interest expense by up to $90-million going forward.' 'Under impending changes to UK tax law, which are expected to be introduced shortly, and which will cap interest deductibility at a percentage of EBITDA, at our current level of pre-tax profitability the interest that has been saved would no...
Full Story »
Full Story »
6y ago from GrandPrix247.com
0
You May Also Be Interested In...
Liberty Media announces $1bn F1 debt reduction
Despite Formula 1 being on its summer break, new owners Liberty...
6y ago from MotorsportWeek.com
Carey: Increase in F1 viewers, attendance and...
Liberty Media Corporation have released second quarter 2017 financial...
6y ago from GrandPrix247.com
New F1 engine to be ‘better’ – Carey
New F1 CEO Chase Carey has revealed that a new engine, cost cuts, and...
6y ago from ThisIsF1.com
Elsewhere On The Network
Popular On MGPToday.com
Marquez ¡still missing something’ to fight for 2024...
No description available...
3h ago from Motorsport.com
Marquez ‘completely exhausted' when he caught...
Marc Marquez was left feeling 'completely exhausted' by the time he caught...
3h ago from MotorsportWeek.c...
Marquez ‘got the better of me' at Le Mans, says...
Reigning MotoGP World Champion Francesco Bagnaia admitted he was missing a...
7h ago from MotorsportWeek.c...
Martin has nothing left to prove to Ducati after Le...
Jorge Martin boldly claimed 'I don't think I have anything to demonstrate'...
5h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Juncos Hollinger Racing reveals special liveries for...
No description available...
1h ago from Motorsport.com
Ilott gets Indy 500 start with Arrow McLaren IndyCar...
No description available...
3h ago from Motorsport.com
Ilott confirmed for Indy 500 run with Arrow McLaren
Arrow McLaren has confirmed that Callum Ilott will drive for the team for...
4h ago from MotorsportWeek.c...
Newgarden up for $440k jackpot from BorgWarner for...
No description available...
5h ago from Motorsport.com
Popular On TotalWRC.com
Tanak not far from “being in the fight” after...
No description available...
2h ago from Motorsport.com
Ogier: Surpassing Markku Alen’s WRC Portugal record...
No description available...
1d ago from Motorsport.com
Neuville stunned by almost “impossible” result in...
No description available...
1d ago from Motorsport.com
WRC Portugal: Ogier holds rally lead, Evans hit by...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
“He picked the pockets” - Ian Wright salutes...
No description available...
42m ago from SportsKeeda.com
Premier League 2023-24: Top 5 managers of the season
No description available...
1h ago from SportsKeeda.com
“This is the time to do it” - Guardiola warns...
No description available...
2h ago from SportsKeeda.com
“He’s like dynamite on the pitch” - Emmanuel...
No description available...
42m ago from SportsKeeda.com
Comments
Hottest News
Ferrari raids Mercedes to secure two new major signings
After signing Lewis Hamilton earlier this year,... Read More »
5h ago from RacingNews365.com
Ferrari make these aggressive changes in hope of troubling...
With almost a full week before the Emilia Romagna... Read More »
2h ago from GPBlog.com
Mercedes use Schumacher in private test to solve W15 woes
Mick Schumacher has taken part in a private test... Read More »
2h ago from GPFans.com