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FIA reacts to reports of $20bn F1 valuation
FIA president Mohammed Ben Sulayem has urged caution over "inflated" valuations of Formula One, after a report claimed Saudi Arabia's sovereign wealth fund explored the possibility of a $20 billion takeover bid last year. Bloomberg reported that Saudi Arabia's Public Investment Fund (PIF) valued the sport's commercial rights at $20 billion including debt, but any potential deal "faltered in the early stages" because F1's current owners Liberty Media had no interest in selling. The report added that PIF remains interested in buying the sport should Liberty Media change its mind. Reacting to the news via Twitter, Ben Sulayem warned about potential negative consequences...
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