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'Saudi Arabia attempted to purchase F1'
Saudi Arabia reportedly tried to buy over Formula One from Liberty Media. According to Bloomberg the Gulf state reportedly held talks with Liberty Media in 2022 but the current owner of Formula 1 turned down the bid. Article continues under ad The bid was reportedly made via the Public Investment Fund (PIF), a state investment fund owned by the Saudi government. PIF's bid would amount to $20 billion, almost five times what Liberty Media put down in 2017. The deal is said to have eventually fallen through as Liberty Media allegedly turned down the bid, but according to Bloomberg, PIF does not intend to stop there and is said to still be interested in taking over Formula 1. Saudi Arabia is...
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1y ago from GPBlog.com
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