Liberty Media's recent announcement that it will soon acquire a controlling stake in Formula 1 is good news for the all-electric Formula E series, according to boss Alejandro Agag.
Liberty Media is owned by billionaire John Malone. The American also owns Liberty Global and Discovery Communications, which happen to be Formula E's largest shareholders, therefore bringing both FIA sanctioned racing series under the majority ownership of Malone.
Agag believes that will benefit the relatively new electric racing series as it looks to expand its audience, rather than hinder it with claims the Liberty Group may focus its efforts on the profitable F1 business, rather than FE which posted a £50 million loss during its first season.
"Not at all," he told Autosport. "It can only be positive, because we are now part of the same family.
"We are Liberty Global and F1 is Liberty Media, so we are different parts of the family," he clarified.
Agag also believes the appointment of Chase Carey to the role of Formula One Group chairman is a "luxury for motorsport", and expects the 21st Century Fox vice-chairman to do wonders for F1 and motorsport as a whole.
