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FIA worried about $20bn F1 buyout bid
Jan.24 The president of F1's governing body is concerned that the financial value of the sport is being dangerously inflated. Earlier, Bloomberg reported that the sport's current American owners Liberty Media turned down an audacious $20 million buyout bid. The bid was made by Saudi Arabia's Public Investment Fund, which owns the premier league football team Newcastle United and shares in multiple companies including Google, Amazon, Meta and many more. Liberty Media bought Formula 1 in 2017 for $4.6 million, raising FIA president Mohammed Ben Sulayem's suspicions that the value is being artificially inflated. 'As the custodians of motorsport, the FIA, as a non-profit organisation, is...
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