Liberty Media CEO and president Greg Maffei, a driving force behind the corporation’s transformative acquisition of Formula 1, has announced he will step down at the end of 2024. Maffei, who has been with Liberty Media since 2005, played a key role in shaping the company’s vast media and sports holdings, culminating in the 2017 acquisition of F1 that significantly boosted the sport’s global profile.
While Maffei will leave his executive position, he will continue on as a senior advisor to ensure a smooth transition, helping Liberty Media refine its strategic direction in sports and media. Reflecting on nearly two decades at Liberty, Maffei expressed pride in how Liberty’s structure now enables shareholders to have a more direct stake in its successes. “The corporate structure is optimized, and the portfolio companies are in strong positions with talented executive teams in place,” Maffei stated. “While it’s never easy to leave an organization as dynamic as Liberty, I am confident that this is the right time.”
Liberty Media Chairman John Malone will take over Maffei’s responsibilities on an interim basis. Malone praised Maffei’s tenure, noting his “leadership, creativity, and dedication” in expanding Liberty’s asset base. Under Maffei’s guidance, Liberty Media evolved to oversee multiple public companies and is now primed to continue expanding its sports portfolio, with MotoGP rumored to be the next acquisition.
Maffei’s exit marks the end of a significant era for Liberty Media, as it continues to deepen its influence in the world of motorsports and entertainment.
