In a seismic shift for Formula 1 and the motorsport world, Liberty Media has announced Derek Chang as its new President and Chief Executive Officer. Chang, a seasoned veteran in the sports entertainment industry with experience at the NBA, will officially take the reins next month, succeeding Greg Maffei, who stepped down in November.
A Strategic Appointment for a New Era
Derek Chang’s appointment comes at a pivotal moment for Liberty Media, which has been aggressively expanding its portfolio in motorsport. With Formula 1 achieving unprecedented global success and the group’s acquisition of MotoGP in the works, Chang’s expertise promises to steer Liberty into its next phase of growth.
Liberty Media Chairman John Malone, who served as interim CEO following Maffei’s departure, emphasized Chang’s credentials:
“Derek’s expertise in both operating and investment roles, his deep understanding of our industries, and his familiarity with Liberty make him the ideal leader for Liberty’s next chapter.”
The Visionary Behind the Wheel
Chang has served on Liberty Media’s board since 2021, providing him with an insider’s perspective on the organization’s strategies. His tenure in the entertainment sector, particularly with the NBA, positions him as a leader adept at navigating the intersection of sports, media, and technology.
In his first statement as CEO, Chang highlighted Liberty’s ambitious plans:
“Our focus is on supporting the growth of our attractive operating assets, including F1 and MotoGP, to sustain their momentum and invest for the future.”
MotoGP Acquisition Stirs the Pot
Liberty Media’s ongoing acquisition of MotoGP has caught the attention of the European Union, which has launched an investigation into the deal. Despite this, Liberty remains committed to integrating the world’s premier motorcycle racing series into its portfolio, further cementing its dominance in global motorsport.
MotoGP’s inclusion would align with Liberty’s F1 success, which continues to enjoy skyrocketing viewership and record-breaking attendance across its global calendar.
A Leadership Trifecta for the Future
Chang will lead Liberty Media alongside a newly formed executive committee that includes Chase Carey, the architect of F1’s resurgence, and Dob Bennett. F1 CEO Stefano Domenicali will report directly to this powerful trio, ensuring strategic alignment across all levels of the organization.
With Chang’s proven leadership and Liberty Media’s aggressive growth strategy, the future of Formula 1 and MotoGP looks poised for even greater heights.
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“Derek Chang steps in as Liberty Media’s new CEO, bringing expertise from the NBA to lead F1 and MotoGP into a bold new era. Discover how this leadership change will shape the future of global motorsport.
