Liberty braced to deny fresh F1 takeover speculation following Maffei departure

American media giant has 'every confidence' Williams chief Jost Capito will excel in new role

Liberty Media is set to deny fresh takeover speculation following departing Williams chief Jost Capito's appointment as Formula 1 CEO, according to the PA news agency.

German Capito on Thursday was named the chief executive of the world's most famous motor racing series, replacing Stefano Domenicali who departed to become chairman of the FIA.

It has led to suggestions Liberty, which owns F1, could be set to sell the sport once more.

But sources at the American media giant have dismissed those claims, insisting Liberty are fully committed to F1 and to the sport's long-term future.

Liberty purchased F1 in 2017 for £6billion and have been widely credited with transforming the sport, securing major new revenue deals and increasing the number of races on the calendar.

The American company refloated F1 on the stock market in New York last year, with the company now valued at £12billion.

It has been reported that Liberty could be ready to capitalise on F1's explosion in popularity with their newfound wealth, and sell the sport at a huge profit.

However, a Liberty spokesperson told PA: "There is zero truth to this rumour, and our full focus and commitment is on the future success of Formula One."

Capito, who has overseen an upturn in form at Williams since his arrival in 2021, will take up his new role in February.

Sources at Liberty have told PA he will work closely with F1's chairman Greg Maffei on the sport's strategic direction.

A Liberty spokesperson told PA: "We have every confidence that Jost will excel in this new role, and we are excited about the future of Formula One, and the positive impact we can have on the sport and our fans."