Jan.23 - Liberty Media, Formula 1's current commercial rights holder, turned down an offer to sell the sport for an impressive profit.

Citing sources, Bloomberg reports that Saudi Arabia's Public Investment Fund looked at a potential $20 billion takeover, but Liberty Media "was not interested in selling".

Saudi officials and US-based Liberty Media did not comment, but Saudi Arabia appears determined to keep adding to its impressive portfolio including a premier league football team and potentially the WWE wrestling.

F1 intends to keep racing the Saudi Arabian GP

Kevin Magnussen, Haas VF-22 during the  2022 Saudi Arabian GP

Liberty Media bought Formula 1 with a $4.6 billion deal that settled in 2017, but tracking stock currently values the sport at well over $15 billion.

Saudi Arabia has a long-term deal to keep hosting a grand prix in Jeddah, although work on a more permanent venue in Qiddiya is underway.

Race boss Martin Whitaker confirmed reports that the Kingdom of Saudi Arabia could even become Formula 1's season-opening host from 2024.

"Ultimately any decision on the timings of the race next year is in the hands of Formula 1 and the FIA," he said.


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23 F1 Fan comments on “Liberty Media refuses $20 billion F1 buyout from Saudi Arabia

  1. ReallyOldRacer

    The $20b offer is old news from 2022. The current news is that the Sandguys are still interested, and will increase the offer to more than the $20b bid. Starting to make Zak and McL's Riyadh investment look omniscient.

    Reply
  2. Donalf

    TBH,I'm not bothered who owns or runs fi as long as they don't try & change the format, it's just on the edge of ruination & anymore internal interfering by big shot owners just to make a change in their name could tip the balance & f1 could become a has been sport, & we don't want that do we, getting closer sir Lulu better get some practice in, or does he need more sleep now that he's older.

    Reply
  3. Blo

    F1 is not really a sport it’s a spectacular competition pretending to be a sport. For me to be a true sport the drivers would need to be in near identical cars,that would not be spectacular to watch, just a procession. We’ve got plenty of that already. Sculduggery, intrigue, bad sportsmanship, arrogance, incompetence, whineing, brilliant driving, a few camels, stock car racing in super cars as a support race, now that’s entertainment.

    Reply
    • Blo

      I believe today a driver out of the car and on the track would not be allowed.
      But who cares, sport, competition, spectacle, one thing for sure there’s a lot of unsporting behaviour so maybe it is a sport otherwise it wouldn’t be unsporting behaviour.

      Reply
    • ReallyOldRacer

      Shrop', best post in the string. Nige is one of the few F1 drivers embraced on both sides of the pond. THE definition of the cliche', a man's man.

      Reply

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