ENGLEWOOD — Greg Maffei is stepping down as president and chief executive of Liberty Media, the company that owns Formula 1. Liberty Media said Wednesday that Maffei would leave his role when his contract expires at the end of the year and become an adviser. The company’s 83-year-old chairman, John Malone, will be the interim CEO. “While it’s never easy to leave an organization as dynamic as Liberty, I am confident that this is the right time,” Maffei, 64, said in a statement. He was a leading figure in the takeover of F1 in 2017 from long-time rights holder Bernie Ecclestone. At the time, Maffei predicted “an enormous opportunity to grow the sport.” The years since then have seen a boom in interest in F1, in part driven by the success of the Netflix series “Drive To Survive”. That’s particularly true in the United States, which now hosts three races a year. The Las Vegas Grand Prix is next week. Related Articles Business | New owner, former employees get The Pro’s Closet back in the saddle Business | Ex-Nuggets player says lawyer’s “betrayal” cost him his creperie, cash and life story Business | Bankruptcy auction set for 50-unit apartment complex in Littleton Business | Bitcoin neared $90,000 in a new record high. What to know about crypto’s post-election rally Business | National gourmet food distributor adds Golden Organics to its business portfolio Liberty Media said in August that it was under investigation by the U.S. Justice Department over denying Andretti Global’s bid to become F1’s 11th team. Maffei said at the time that the company is open to new entrants applying, and potentially being approved, if certain requirements are met. Liberty Media also expanded into motorcycle racing in April when it agreed a deal worth around $4.5 billion for the MotoGP series. Get more business news by signing up for our Economy Now newsletter.