Greg Maffei is to step down from his characteristic as president and chief govt officer of Formula 1 proprietor Liberty Media at the end of the 300 and sixty five days.

The 64-300 and sixty five days-frail American has been pivotal within the come of F1 since US company Liberty equipped its industrial rights in 2017.

His characteristic will be taken by Liberty Media chairman John Malone on an duration in-between foundation from 1 January whereas Maffei stays on “to provide a carry to the management transition”.

Maffei will be leaving at a key time for F1 – the industrial provides that bind the teams to the sport are being renegotiated earlier than they expire at the end of 2025.

The game is moreover going by an investigation from the US division of justice, external over its rejection of an entry verbalize from American racing organisation Andretti.

This has resulted in tensions in most well liked months inner F1 Management, the company owned by Liberty, sources accept as true with acknowledged, though these are acknowledged now to accept as true with eased and Maffei’s departure is no longer connected to the Andretti saga.

There has moreover been upheaval in most well liked weeks with the departure of lengthy-time F1 authorized professional Sacha Woodward-Hill, a prone confidant of prone F1 boss Bernie Ecclestone, who modified into removed when Liberty took over the sport.

Maffei has been central in helping steady a extra productive relationship with governing body the FIA after its president Mohammed Ben Sulayem modified into concerned in a chain of controversial steps that dismayed F1 and the teams.

These accept as true with persisted in diversified areas on the sporting side however Ben Sulayem has stayed a long way from industrial issues inner the past 300 and sixty five days following an intervention by Maffei.

His departure will focal point extra duty on F1 president and chief govt officer Stefano Domenicali, who has lope the industrial side of the sport underneath Maffei since 2021.

In most well liked months, following a restructure of Liberty’s shareholdings, Maffei has misplaced some of his responsibilities within the company, including the Atlanta Braves baseball workers and radio living SiriusXM.

Maffei acknowledged: “Your entire Liberty acquisitions done throughout my tenure are if fact be told in constructions the set up shareholders can accept as true with extra bellow ownership of their upside.

“The corporate construction is optimised, and the portfolio firms are in stable positions with talented govt teams in arena. Whereas it be never easy to switch away an organisation as dynamic as Liberty, I’m confident that here is the moral time.”

Malone acknowledged: “Since becoming a member of in 2005, Greg has been at the forefront of the thrilling evolution within the lifecycle of Liberty.

“He has grown our asset sinful and made the company greater and extra purposeful for shareholders, along the formula overseeing as many as five separate public firms simultaneously.

“Particularly following this day’s transaction announcements, our company is less complex and extra focused than ever earlier than, which is a supreme capstone for Greg’s done profession at Liberty.”

Maffei is the fourth senior govt to switch away Liberty Media because it got F1.

Lunge Carey, who modified into made chairman and chief govt when Liberty took over, stepped down at the end of 2020 after securing a restructure of the sport, handing over to Domenicali.

Authorized Mercedes workers boss Ross Brawn, appointed managing director by Carey in 2017, left his characteristic in 2022.

And the fundamental industrial director Sean Bratches left in 2020. His ideally suited legacy modified into the establishment of the a hit Netflix documentary sequence Force to Survive, which is credited with a most foremost characteristic in growing F1’s global reputation since Liberty took over.