F1 News
Liberty Media doubles Maffei annual salary to $44 million
- GPblog.com
Big earners are plentiful in Formula 1. Bernie Ecclestone was the best example of that for years. Now that Liberty Media has taken over the sport from him for a few years, the company hasn't put forward a 'new Bernie', but the fact that there is still good earnings in F1 is evident from the salary of the big boss at Liberty.
Greg Maffei, the president of Liberty Media, received a salary of $44 million last year. This is evidenced by a statement from Liberty Media before they hold their annual shareholders' meeting.
That amount is more than double the amount he earned in 2017 and 2018. Motorsport-Total reports that his basic salary 'only' 1.1 million dollars. The vast majority of his income therefore consists of bonuses based on the good performance last year.
Formula 1 important for Liberty Media
Although Formula 1 is only one part of Liberty Media's portfolio, the committee that pays the salary stresses that the way Maffei has supported strategic initiatives for Formula 1 has largely contributed to the level of bonuses it has received.
This salary has of course been determined on the basis of the results of 2019. Now that all sports are at a standstill, Liberty Media will also have to pull out all the stops to get through this crisis. It's up to Maffei to prove that he's really worth his salary.