Liberty Media announced on Wednesday evening it has agreed a deal to purchase F1 which values the sport at $8bn (£6bn). While Bernie Ecclestone has been retained as CEO, F1 will have a new chairman in the form of Chase Carey, and it has also been confirmed the teams will receive the opportunity to invest in the sport.

“The Teams will be given the opportunity to participate in the investment in Formula One, and the detailed terms of that investment will be agreed in due course,” a statement from Liberty Media read. “Certain teams have already expressed an interest in investing after completion of the acquisition.”

At present the teams do not have a shareholding in F1 but do have a say on its regulations through the Strategy Group and F1 Commission.

Liberty Media have also confirmed the takeover of F1 is subject to “certain third-party consents and approvals, including that of the Fédération Internationale de l’Automobile (FIA), the governing body of Formula One”, with the FIA holding a 1% stake in the sport.