A Saudi takeover could have dire consequences

In 2021, the Formula 1 race was held in Saudi Arabia for the primary time. Crown Prince Mohammed bin Salman is touring the primary forged.Image: imago photos/Autosport photos

Autosport

Yannick Sauer

Formula 1 is at present experiencing an unprecedented growth. The racing sequence opens up huge markets like China and USA. Especially within the States, the hype surrounding the premier class of motorsports is large – additionally because of the enormous success of the Netflix sequence “Drive to Survive”, which can premiere its fifth season on February 24.

The first footage of the fifth season of “Drive to Survive” are already obtainable. Video: YouTube/Netflix

For US media firm Liberty Media, which has owned the rights to Formula 1 since 2016, the funding appears to have paid off. At the time, the Americans paid Bernie Ecclestone’s firm $4.4 billion – now mentioned to be 5 occasions what the racing sequence is price.

Recently, the information company Bloomberg reported that Saudi Arabia needs to purchase Formula 1 from Liberty Media for 20 billion {dollars}.

The cash ought to come from Saudi Arabia’s state-owned PIF (Public Investment Fund), from which the Sheikh’s regime purchased the English soccer membership Newcastle United.

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Liberty rejected the provide, based on Bloomberg. So far, neither Formula 1 nor Saudi Arabia have commented on the rumours. The FIA, the world motorsport affiliation, is already within the particular person of its president, Mohammed Ben Sulayem.

FIA chief Ben Sulayem warned of consequences for followers

Although he could not affirm this info both, he defined what he thinks in regards to the FIA’s alleged takeover plans. “Any potential purchaser have to be affordable and think about the better good of the game and have a transparent, sustainable plan – not simply some huge cash,” warns Ben Sulayem, with out specifying specifics.

The head of the FIA ​​continues: “Our job is to supply the promoters with excessive racing charges and different business prices and any unfavorable impression it could have on followers“.

In an interview with the English-language portal Motorsport.com, he explains his issues: A one who has paid a lot for a product will in some locations make it costlier “to get the cash again”. Promoters could then pay extra to host matches and could also be compelled to cross on new charges to followers, for instance within the type of larger ticket costs.

Sulayem considers the proposed proposal “extreme”.

The head of the FIA ​​assessed the alleged provide of the Saudis as “extreme”. “To wit: Is Formula 1 that costly?” he asks in an interview with Motorsport.com.

Ben Sulayem additionally stresses that his motorsport group ought to be on the desk for potential discussions about the way forward for Formula 1. “For now it is only a hearsay. But I feel the FIA ​​ought to be a part of these talks or give recommendation.”

Formula 1 is at present experiencing an unprecedented growth. The racing sequence opens up huge markets like China and USA. Especially within the States, the hype surrounding the premier class of motorsports is large – additionally because of the enormous success of the Netflix sequence “Drive to Survive”, which can premiere its fifth season on February 24.

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