Peter Casey-Imagn Images

Who Is the Owner of Formula 1?

Originally posted on Athlon Sports | By Eric W. Bolin | Last updated Mar 7, 2026 11:05 AM ET

The 2026 Formula One season opens with the Australian Grand Prix on March 8.

The racing organization has become the most popular in the world over the last decade or so, finally cracking North American mainstream appeal in the 2020s.

But because of its relative newness near the top of the heap in the United States, it’s worthwhile to take a look at some of the organization’s history, including its founding, structure, and ownership.

F1 Ownership History

Formula One began as a racing organization in 1950 and as of the beginning of the 2026 racing season, it is run by the Formula 1 Group, which is, in turn, owned by Liberty Media Corporation.

Liberty also owns MotoGP and World SuperBikes racing organizations and, more familiarly to audiences in the United States, Major League Baseball’s Atlanta Braves.

The company purchased Formula One in January 2017 from private equity firm CVC Capital. CVC bought F1 in 2006 for $2 billion and, according to Forbes, made more than $8.2 billion through 2014. Liberty then purchased F1 for about $8 billion.

Much of that financial success, which continues today, was built by the stewardship of Bernie Eccleston. Eccleston founded the Formula One Group in 1987 and ran the organization until the sale to Liberty.

Liberty removed Eccleston as chief executive upon purchase, but was appointed as honorary chairman emeritus and advisor to the board of directors until 2020 at the age of 90.

RELATED READ: How Much Money Do F1 Drivers Earn?

F1 operates under Liberty via the Formula One Group. Chase Carey ran the group from 2017 to 2020, though it’s now run by Stefano Domenicali, who has served as CEO and face of the business entity since 2021.

Under Liberty’s ownership, F1’s revenue has grown by about $2 billion since it purchased the company and saw an increase in revenue of 14.1% from 2024 to 2025.

F1 Racing History

Ferrari driver Lewis Hamilton and Ferrari driver Charles Leclerc arrive for the Las Vegas Grand Prix drivers parade.Lucas Peltier-Imagn Images

Formula One conducted its first racing season in 1950 with seven races in seven different countries. The 2026 season will hold 24 races in 21 different countries, both of which have been the standard since 2024. The Monza Circuit in Italy has hosted the most F1 races with 75. The United States and Italy are the only countries that have ever hosted three different F1 races in a single season.

Spain’s Fernando Alonzo holds the record for most F1 races driven. Entering the 2026 season, Alonzo has entered 428 races, 48 more than second-place Lewis Hamilton of Great Britain.

READ: How Many Formula 1 Teams Are There?

Hamilton holds the record for most career wins with 105, giving him a winning percentage of 27.63. He’s largely considered, alongside Germany’s Michael Schumacher and Holland’s Max Verstappen, as the greatest F1 drivers in history.

Schumacher’s 91 wins are the second most, and Verstappen carries the best winning percentage in modern history at 30.47%. Britain’s Jim Clark holds the best winning percentage ever, winning 25 of his 73 races from 1960 to 1968.

The 2026 season begins in Melbourne at 11 p.m. ET Saturday night and will conclude with the Abu Dhabi Grand Prix on Dec. 6.

This article first appeared on Athlon Sports and was syndicated with permission.

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