In 2017, Liberty Media purchased Formula 1 for $4.4 billion, and it is clear that in this period of time, the premier category has experienced a resurgence in popularity since the acquisition, notably due to the success of the documentary series “Drive to Survive” on Netflix.<\/p>\n
Last weekend, an article published by Bloomberg revealed that a $20 billion offer, from the Saudi sovereign fund, had been made to the current owners. A potential massive return on investment in just a few years, but the offer was ultimately rejected, not without drawing reactions from observers.<\/p>\n
As the lessee of commercial rights for Formula 1 until 2110, the FIA, through its president Ben Sulayem, felt compelled to respond, as a sale of the championship at such a high price could lead to unexpected consequences.<\/p>\n
The president emphasizes that any new owner who would have spent so much money to buy F1 would seek to accelerate returns, which could lead to a significant increase in hosting fees for race promoters. This would force a rise in ticket prices, thereby depriving fans of the opportunity to attend races.<\/p>\n
\u00ab As guardians of motorsport, the FIA, as a non-profit organization, is skeptical of the alleged reported sum of 20 billion dollars for Formula 1,” Ben Sulayem stated on Twitter.<\/p>\n
It is advisable for any potential buyer to use common sense, consider the greater good of the sport, and propose a clear and sustainable plan – not just a lot of money.<\/p>\n