AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Formula 1
      • STANDINGS
    • Formula E
    • Circuits
    • WRC
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
No Result
View All Result
AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Formula 1
      • STANDINGS
    • Formula E
    • Circuits
    • WRC
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
No Result
View All Result
AutoGear

Liberty Media Names Derek Chang as New CEO, Reshaping Formula 1 Oversight

Virgilio Machado by Virgilio Machado
January 9, 2025
in Motorsports
Reading Time: 3 mins read
0
McLaren Stays Ahead as Abu Dhabi GP Enters Crunch Time; Ferrari and Red Bull Grapple with Setbacks

Formula One F1 - Qatar Grand Prix - Lusail International Circuit, Lusail, Qatar - November 29, 2024 The cars of McLaren's Lando Norris, Mercedes' George Russell and McLaren's Oscar Piastri are seen after finishing in first, second and third position in sprint qualifying Pool via REUTERS/Darko Bandic

Liberty Media, the parent company of Formula 1, has appointed media and sports executive Derek Chang as its new president and CEO. Chang takes over from Greg Maffei, who departed at the end of 2024. The move marks a significant shift in Liberty Media’s leadership strategy, particularly in how Formula 1 is managed at the highest level.

Chang’s Background and Role

With a career spanning roles at the NBA, DIRECTV, Scripps, and Charter, Chang is no stranger to overseeing major media and sports entities. His tenure as CEO of NBA China (2018–2020) further solidified his credentials in managing high-profile global sports properties. Since 2021, he has served as a director at Liberty Media, giving him insight into the company’s operations.

However, unlike his predecessor, Chang will not take an active role in Formula 1’s day-to-day management. Instead, he will focus on Liberty Media’s broader business interests, including optimizing its portfolio, advancing strategic initiatives, and overseeing its planned acquisition of MotoGP.

“Liberty has always been long-term minded in its investment mandate yet nimble to move quickly on new opportunities,” said Chang. “Both of these things will remain true in our strategy going forward.”

Impact on Formula 1 Leadership

With Chang stepping back from F1-specific responsibilities, the sport’s CEO, Stefano Domenicali, gains more autonomy in shaping F1’s direction. Domenicali will now report to a newly formed Liberty committee comprising Chang, Dob Bennett, and Chase Carey, who returned to Liberty’s executive board last December.

This shift centralizes Formula 1’s leadership under Domenicali, making him the primary point of contact for teams and stakeholders. Previously, Maffei had been a key figure in the paddock, often engaging directly with teams and influencing strategic decisions.

The change allows Domenicali to more directly steer the sport as it navigates critical milestones, including:

  • Finalizing the new Concorde Agreement for 2026.
  • Managing the transition to the next-generation F1 regulations, featuring new power unit and aerodynamic designs.
  • Overseeing expansion initiatives, including the integration of Andretti Cadillac as a new team.

Challenges Ahead

One immediate challenge for Chang will be addressing antitrust concerns over Liberty Media’s acquisition of MotoGP. The European Commission has opened a Phase II antitrust probe into the deal, with deliberations expected to last several months.

For Formula 1, the 2025 season represents the final year under the current ruleset, a critical moment to finalize long-term agreements with teams and the FIA. Domenicali, whose contract as F1 CEO expires at the end of 2025, will need to decide on his future amidst speculation of renewal.

Industry Implications

Liberty Media’s restructured leadership could alter the dynamics of Formula 1 governance. By consolidating control under Domenicali, the sport gains a more streamlined decision-making process. However, the absence of Maffei’s direct involvement may lead teams to focus their lobbying efforts solely on Domenicali, increasing pressure on his leadership.

As Liberty Media continues to evolve its strategy, its moves will be closely watched, particularly in the context of its broader ambitions in motorsport, such as MotoGP and its growing U.S. fanbase. Chang’s appointment signals a renewed focus on long-term growth and innovation across all Liberty Media properties, with Formula 1 remaining a crown jewel of its portfolio.

Share213Tweet133Send

Related Posts

Roger Penske’s Shocking Response to Indy 500 Scandal Leaves NASCAR Speechless
Motorsports

IndyCar Scandal Unveiled: Penske’s Controversy Explodes with Shocking Leadership Shake-Up

Team Penske's IndyCar drivers have sparked controversy and drama after the recent scandal and mass firing within the team's leadership....

by Carl Smith
May 22, 2025
Haas F1 Team Makes Spectacular Debut at Historic Motorsport Event – Must-See!
Motorsports

Haas F1 Team Makes Spectacular Debut at Historic Motorsport Event – Must-See!

The Haas F1 Team is gearing up to make a grand entrance at the renowned Goodwood Festival of Speed, marking...

by Arthur Ling
May 22, 2025
Carlos Sainz Unleashes Shocking Confessions After Experiencing F1 Movie Premiere Drama
Motorsports

Carlos Sainz Unleashes Shocking Confessions After Experiencing F1 Movie Premiere Drama

Formula 1 sensation Carlos Sainz left squirming after a private screening of the upcoming F1 blockbuster movie. The Williams F1...

by Simon Monroy
May 22, 2025
Max Verstappen’s Shocking NASCAR Transition: Dale Jr.’s Move Sparks Explosive Speculations
Motorsports

Dale Earnhardt Jr. Confident He Could Win a Formula 1 Race on an Oval!

Daredevil Dale Earnhardt Jr. Dares to Dream of Dominating F1 Races! Rev up your engines, racing fans, as NASCAR legend...

by David Castro
May 22, 2025

Recent News

Kia EV3 chega à Europa

Kia EV3 with the highest safety rating in EuroNCAP tests.

May 23, 2025
Lotus Emira ganha versão Turbo SE com 400 cv

The Lotus Emira may gain a V8 engine.

May 23, 2025
Roger Penske’s Shocking Response to Indy 500 Scandal Leaves NASCAR Speechless

IndyCar Scandal Unveiled: Penske’s Controversy Explodes with Shocking Leadership Shake-Up

May 22, 2025
Haas F1 Team Makes Spectacular Debut at Historic Motorsport Event – Must-See!

Haas F1 Team Makes Spectacular Debut at Historic Motorsport Event – Must-See!

May 22, 2025

Newsletter

  • PRIVACY POLICY
  • TECHNICAL INFORMATION
  • EDITORIAL STATUS
  • TERMS AND CONDITIONS

© 2023 AutoGear - Todos os direitos reservados AutoGear.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Formula 1
      • STANDINGS
    • Formula E
    • Circuits
    • WRC
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語

© 2023 AutoGear - Todos os direitos reservados AutoGear.

Enable Notifications OK No thanks
x