Maffei is leaving Liberty Media!

Formula 1 owner Liberty Media has announced that the company’s president and CEO Greg Maffei will soon be stepping down from his position.

Maffei, who joined the American investment firm in 2005 and became CEO in February 2006, will leave Liberty Media after opting not to renew his contract at the end of the year.

Maffei will be replaced on an interim basis by Liberty Media Chairman John Malone.

Following his retirement, Maffei will remain with the company – taking on a senior advisor role from January 1, 2025, and assisting Liberty Media in establishing a new management structure.

Maffei was behind the firm’s purchase of Formula 1 in 2017 and helped transform the series into a modern global entertainment powerhouse.

Earlier this year, Liberty Media announced it would acquire MotoGP, adding to its extensive portfolio.