afyon escort Mugla Escort balikesir escort Hacklink hacklink satisi istanbul escort Kamagra Levitra Novagra Geciktirici deneme bonusu veren siteler deneme bonusu veren siteler bonus veren siteler
editable passport template eskisehir kaplica otelleri ucuz takipçi Dis eti agrisi kartal evden eve nakliyat yol kapani ankara arcelik servisi hurdaci istanbul hurdaci Instagram Begeni Satin Al
Connect with us

Formula 1

Saudi fund offers to buy F1 from Liberty Media – $20 billion

Published

on

Saudi fund offers to buy F1 from Liberty Media

According to reports, the Saudi Arabian Public Investment Fund has made an offer to purchase F1 from Liberty Media.

According to Bloomberg, a leading financial news source, Liberty Media rejected an offer of $20 billion made in early 2022 by the Saudi Arabian Public Investment Fund to acquire F1.

In recent years, the Middle East has seen significant growth in the sport of F1, with Saudi Arabia hosting a race on the calendar in 2020 and Qatar starting a 10-year contract this season.

Saudi Arabia has been actively involved in bidding for major sporting events and currently holds investments in a number of global sports.

Liberty Media purchased F1 in 2016 for $4.4 billion and since then, they have initiated several changes, including updating the sport’s strategies to appeal to younger audiences.

The current holder of the commercial rights of F1 obtained them in 2017 and have since overseen a period of rapid expansion.

Advertisement

Despite the negative impact of the pandemic, F1’s current value is estimated at $15.2 billion, more than double the value from four years ago, even taking into account the dip caused by the pandemic.

In recent years, large investments in sports events and teams have led to accusations of attempting to “sportswash,” where the Kingdom uses sports to obscure its poor human rights record.

Examples of recent acquisitions include the acquisition of the Premier League team Newcastle United, hosting high-profile boxing matches, and the establishment of a rival golf tour to the PGA, which has been a controversial move.

Recently, the leading football club of Saudi Arabia, Al Nassr, completed the signing of Cristiano Ronaldo on a large contract which includes the promotion of the country’s interests and may potentially lead to an endorsement of their bid for the 2030 World Cup.

Saudi Arabia has also expressed interest in relocating an F1 team to the Kingdom, with McLaren being one of the targets, following the partnership established between Saudi Arabia and the McLaren’s Formula E and Extreme E teams.

According to Bloomberg, Liberty Media is not interested in selling F1, but Saudi Arabia remains an interested party should Liberty Media change their position.

Saudi fund offers to buy F1 from Liberty Media – $20 billion Saudi fund offers to buy F1 from Liberty Media – $20 billion

Advertisement

Read also : “AMR23 is so vastly different” Aston Martin

Also make sure you follow us on social media FacebookTwitterInstagram  for all the latest updates between issues.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement
2023 F1 Car Launches
TeamCar NameDate
HaasVF-2331 January
Red BullRB1903 February
WilliamsFW4506 February
Alfa RomeoC4307 February
AlphaTauriAT0411 February
Aston MartinAMR2313 February
McLarenTBA13 February
FerrariTBA14 February
AlpineA52316 February
MercedesW1416 February

TRENDING

afyon escort Mugla Escort balikesir escort Hacklink hacklink satisi istanbul escort Kamagra Levitra Novagra Geciktirici deneme bonusu veren siteler deneme bonusu veren siteler bonus veren siteler
editable passport template eskisehir kaplica otelleri ucuz takipçi Dis eti agrisi kartal evden eve nakliyat yol kapani ankara arcelik servisi hurdaci istanbul hurdaci Instagram Begeni Satin Al