Liberty Media refuses $20 billion F1 buyout from Saudi Arabia
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.
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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I doubt anything would change anyway.
Yeah, they won't bring back those grid girls for sure!
You have more confidence in Saudi Arabia than me, is all I can say...!
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.
Are they buying it so inbetween practice sessions they can hold camel racing gps?
Shrop' I hear that the annual Camel Beauty Pageant will be moved from Qatar to Las Vegas as part of the GP weekend.
Just a ruse (ala Musk) to raise the stock price...
https://finance.yahoo.com/quote/FWONK/
I was more referring to on-track action & rules than the commercial side.
Swede, hold that thought when they're selling kabsa platters at the concession stands. The times they are a changin', my friend.
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.
Keep up the brave face Liberty Media! Never sell your gold piggy bank!
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.
Ten pairs of drivers competing in equal equipment, or ten sets of engineers competing within equal budgets. Why can't engineering be a sport?
Engineering does not rely on physical activity to determine the winner, nor does motor racing hence not a sport but in both cases a competition.
yes , plenty of fat unfit people can win in an f1 car--physical activity , Blo what are you on about
I always thought that two people or more challenging to win became a sport, unless there's another name for it.
Nope, a sport requires physical effort to win. Chess for instance is not a sport but is a competition.
I disagree, sir Lulu almost broke his back, chipped his teeth & had a very sore bottom fighting with his car, surly that's physical.
Nope, that’s an accident. If he won a race by pushing his car across the finishing line maybe but that is probably against the rules.
Mansell America
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.
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.
Yeah, meet in the middle, 50=50 He, he.
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