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Analysis: F1’s ‘Don King Clause’ could block sale of F1’s rights
Article To news overview © XPBimages FIA President Mohammed Ben Sulayem has cautioned prospective purchasers of Formula 1’s commercial rights from current holder Liberty Media to exercise due diligence before committing a reported bid of $20bn (£18bn) on acquiring the remaining 88 years of what was originally a 113-year lease expiring on 31 December 2110. The Emirati’s warning comes after financial media agency Bloomberg on Thursday reported that Saudi Arabia’s Public Investment Fund had been in talks to acquire the lease, claiming these faltered last year. The report stated an offer of $20bn including debt had been made, adding that the talks had not been verified by either party....
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2y ago from RacingNews365.com
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