Liberty Global was already an investor in the all-electric category and now boasts a controlling interest, with the remaining 35 percent owned by minority shareholders.

Warner Bros. Discovery (WBD) previously owned a 25 percent stake in Formula E.

Liberty Global has a shared history with Liberty Media, which owns Formula 1 and would acquire MotoGP parent Dorna Sports subject to regulatory approval, as well as a common chairman in John C. Malone but is a separately traded company.

Formula E CEO Jeff Dodds said, “First of all I’d like to offer my thanks to Warner Bros. Discovery for the support and guidance they’ve provided Formula E over the past nine years.

“Liberty Global have a proven track record of building and growing businesses and their investment in us comes at the perfect time as we plan for a period of exponential growth.

“Having personally known and worked alongside the Liberty leadership team for over a decade, I’m thrilled to be able to further benefit from their expertise and their resources.

“This is a powerful vindication of the huge potential of our sport.”

Liberty Global CEO Mike Fries remarked, “We’re excited to take a controlling interest in Formula E, a business we first invested in nearly 10 years ago.

“Formula E has a massive potential for further growth while integrating the most advanced sustainability standards in sports.

“The investment continues our approach of disciplined capital rotation across our Ventures portfolio and our strategy of making long-term investments in highly attractive businesses.”

Liberty Global is primarily invested in Europe, in a number of telecommunications businesses.

The announcement of its acquisition of the WBD stake in Formula E, which is subject to regulatory approval, follows the release of the championship’s 2024-25 calendar.

Formula E 2024-25 calendar