The FIA president Ben_Sulayem has called for 'common sense' from potential F1 buyers.
FIA president Mohammed Ben Sulayem has addressed a rumoured $20billion buyout bid from Saudi Arabia’s sovereign wealth fund over a possible takeover of Formula 1, calling for “common sense” from potential buyers.emerged over the weekend claiming the Saudi Arabian Public Investment Fund , chaired by Saudi Crown Prince Mohammed bin Salman,to Formula 1 owners Liberty Media to take over the rights to the sport, though this was reportedly rejected.
Liberty, which bought Formula 1 in 2017 for $4.6billion, has rapidly increased the value of the sport through a substantial expansion in its audience, brought about in no small part to the global appeal of Netflix docuseries, which has brought a new wave of fans to the sport – though FIA president Ben Sulayem believes a $20billion price tag on Formula 1 is “inflated”.
Along with the current growth in key markets such as the United States, the PIF, which is keen to expand its sporting portfolio after the acquisition of Premier League football club Newcastle United, alongside the nation hosting multiple World Championship boxing fights in recent years and Saudi Arabia’s arrival into Formula 1, it was reported that the PIF wants to take on the sport into its ranks.
But the FIA president urged caution when it comes to such moves, believing that the good of motorsport must first be considered before such prices are taken into account.
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