Following confirmation that Liberty Media shareholders had approved the Formula One takeover, the FIA is on Wednesday expected to approve the same at an extraordinary meeting of the World Motor Sport Council.
From the moment the proposed takeover was first announced last year, there had been a selection of stories circulating that concentrated on the possible obstacles that might derail Liberty's plans: concerns about monopolies, the competition commissioner, and so on. But in December, the deal was approved by all relevant antitrust authorities, and the path was laid for a smooth takeover, pending approval by the relevant stakeholders.
The FIA has always appeared to be supportive of the proposed takeover, and while members of the WMSC will have the opportunity to interrogate the incoming owners on their strategies for restoring F1 to its former position as the pinnacle of international motorsport, none are expected to vote against it.
What the takeover itself will mean for the sport remains to be seen, but on the assumption that the WMSC votes in favour the transition is expected to be complete by the end of March, with 100 percent of what were the Delta Topco shares transferred to the Liberty Media Group.
Hopes are high that the new owners' experience in sport and entertainment -- both creating and supplying media -- will help give Formula One the boost it desperately needs to compete with other global sports in the 21st century market. While F1 has remarkable global reach, it can be argued that we have over-saturated unnecessary markets at the expense of key territories like the United States.
Across the Americas we presently have four races, or roughly 20 percent of the calendar. But the rest of the season takes place in unfriendly timezones, particularly for those viewers on the West Coast. Liberty have said that new grands prix in the United States will be a priority, but the scheduling of events on other continents should be designed to capture peak audience, and not based on habits formed when access to media was very different.
There is also expected to be additional support for those races deemed to be key to the sport's history. In September, when the takeover was first announced, incoming chairman Chase Carey was asked about his plans for expansion by the official F1 website. After naming them, he added "But of the same importance will be strengthening it in historic places like Europe. There is the foundation of the sport and we certainly will build on that historic strength."
That is good news for the British, German, and Italian grands prix. In recent days the BRDC has had to warn fans that the cost of hosting the race at Silverstone has become so prohibitive that they might need to trigger the break clause in the contract, while Germany is off the calendar this year because Hockenheim can't sustain the annual loss. The Italian Grand Prix was saved at the eleventh hour after protracted negotiations over the ever-escalating costs.
At present, it is in the interests of all those involved in the sport to encourage Liberty's involvement and hope that it results in resumed growth and long-term investment in the sport. Following the period of CVC ownership that was described -- on the record -- by one senior team figure as "rape", we have to hope that things can only get better.