News Details

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...
Full Story »
2y ago from espnF1.com 0
Share

You May Also Be Interested In...

Saudi Arabia wealth fund explored bid for Formula 1

Saudi Arabia's sovereign wealth fund reportedly held talks with Formula 1...
2y ago from F1i.com

Saudi Arabia wealth fund explored $20M bid for Formula...

Saudi Arabia's sovereign wealth fund reportedly held talks with Formula 1...
2y ago from F1i.com

Saudi Arabia wealth fund explored $20b F1 bid –...

Saudi Arabia’s sovereign wealth fund considered an attempt to buy...
2y ago from MotorsportWeek.com

FIA president calls for ‘common sense' amid $20b...

FIA president Mohammed Ben Sulayem says that any potential suitor...
2y ago from MotorsportWeek.com

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

‘Progression’ name of the game as Kyffin Simpson...

Kyffin Simpson is competing in his sophomore year in the NTT IndyCar...

Severe weather disrupts IndyCar practice from Iowa

A round of severe weather has delayed the first practice session for the...
20h ago from MotorsportWeek.c...

Will Power’s contract decision on hold due to Team...

Will Power’s contract with Team Penske is up at the end of this season,...
23h ago from MotorsportWeek.c...

Popular On TotalWRC.com

Popular On GunnersToday.com

Journalist claims Man United could outbid Arsenal in...

Sporting CP striker Viktor Gyokeres continues to be linked with a move...
49m ago from CaughtOffside.com

Ahead of Noni Madueke's transfer, son of former...

Arsenal have snapped up another talent from Chelsea this summer ahead of...
49m ago from SportsKeeda.com

'Would pay' – Journalist claims Man United would...

Manchester United would reportedly be happy to pay the money Sporting...
2h ago from CaughtOffside.com

'I'm at the same table as them' - Viktor Gyokeres...

Arsenal target Viktor Gyokeres has claimed that he is presently at the...
1h ago from SportsKeeda.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.