Saudi Arabia's Public Investment Fund (PIF) reportedly considered a huge bid of more than £16bn to purchase Formula 1.
The sports has gone from strength to strength in the past few years, under the stewardship of current owners Liberty Media. Since the American corporation agreed to buy a controlling stake in the sport, paying around £3.3bn, it has gone from haemorrhaging money to becoming more profitable and sustainable.
And worldwide interest is at an unprecedented level, thanks to efforts to attract a new audience such as the Drive to Survive Netflix docu-drama and a very effective change in social media policy. So it is only natural that F1 has become an attractive investment opportunity for some of the world's wealthiest groups.
