Forbes has listed Liberty Media – which owns F1 – as the World’s Most Valuable Sports Empires’ of 2023.
Not long ago, Bloomberg ran a report citing Saudi Arabia Wealth Fund looking to buy F1 from Liberty Media which was turned down, Forbes has now named the American company as #1 in the World’s Most Valuable Empires’ of 2023.
Liberty Media is valued at $20.8 billion as per the Forbes calculation, where it owns Atlanta Braves, Formula 1, Drone Racing League, Kroenke Arena Co., Meyer Shank Racing, Overtime Sports – where they have ownership of 50% or less.
F1 is estimated to be valued at $17.1 billion in the above figure, which is a massive increase from the $4.4 billion value it bought it in 2017. On the other hand, Atlanta Braves is estimated to be valued at $2.1 billion, while rest remaining amount is covered by rest.
The valuation of F1 has resulted in a war of words between the Formula One Management and the FIA President Mohammed Ben Sulayem. The latter cautioned the sport about inflated price listing of the sport, which could result in burden on fans.
The former wrote back requesting to not interfere in commercial matters considering that the FIA is a regulatory body rather than owners to have a say. While the verbal fight goes on, the value now put in by Forbes raises lots of eyebrows.
There is no real clarity on the exact valuation of F1 but if the above pricing is correct, Liberty Media is in a very bright position. This also could result in increase in hosting fees and overall viewing experience of the fans as per the fears of Sulayem.
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