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Formula One and Liberty Media’s lawyers reportedly sent a warning letter to FIA World Motor Sport Council in wake of president Mohammed Ben Sulayem’s recent tweets about F1’s valuation.
Saudi Arabia’s Public Investment Fund, which launched LIV Golf, “considered an attempt to add” F1 to its sports portfolio, according to a recent report from Bloomberg. The group reportedly valued F1 at more than $20 billion plus its debt; however, Liberty Media was “not interested in selling,” per Bloomberg. The media conglomerate bought Formula One in 2017 for a reported $4.4 billion. Despite this, PIF is reportedly still interested in purchasing F1 if Liberty Media opts to sell.
