What are the differences between the FIA, Formula 1 and Liberty Media?
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FIA is a sports association for a number of motorsports. They make the rules for the sports and organise racing series. The sports include Formula 1 and other Formula racing, the World Rally Championship and the World Endurance Championship. Liberty Media owns the Formula One Group. This is the company which promotes the Formula 1 Championship and have the exclusive rights to film the events and sell tickets to the events.
So the FIA set the rules for the sport and deal with the racing teams and the track while Liberty Media is the one marketing the sport and deal with TV rights, visitors and viewers, sponsors, etc. Very simplified FIA deals with everything on the track side of the barriers while Liberty Media deals with everything outside the barriers. But of course it is a cooperation between FIA, Liberty Media, the racing teams and the track owners.
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