(Motorsport-Total.com) – Formula 1 has grown tremendously since its takeover by Liberty Media in 2016. The American media firm purchased the Formula 1 group for 4.4 billion {dollars}, after which turned the sport right into a worthwhile enterprise for Formula 1 itself, in addition to for the groups.
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Former Formula 1 CEO Chase Carey (left), Liberty Media CEO Greg Maffei (middle) and Liberty Media proprietor John Malone (proper) on the beginning grid in Austin
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Liberty Media is at present the world’s most valuable sports activities empire at $20.8 billion, in accordance with Forbes. In addition to Formula 1, Liberty additionally owns the Atlanta Braves baseball group, in addition to holdings in a sports activities area and a drone racing league.
Formula 1 alone is price round $17.1 billion and is thus Liberty Media’s largest asset. If Liberty Media’s remaining investments have been left and solely Formula 1 was used, the premier class would nonetheless be the largest sports activities firm in the world. world.
In second place, by a comparatively giant margin, is Kroenke Sports & Entertainment, which owns, amongst others, FC Arsenal in London and different sports activities groups in soccer and soccer in the United States. However, with a mixed worth of $12.75 billion, it is greater than $8 billion behind Liberty Media general and $4.35 billion behind Formula One alone.
The remaining locations are adopted by the homeowners of the US soccer, baseball, basketball and ice hockey groups, and a few homeowners of main soccer golf equipment reminiscent of Manchester United, Liverpool and AC Milan additionally make the high ten.
Rumors about Saudi Arabia have been controversial
In current weeks, Liberty Media was rumored to have rejected a $20 billion sale of Formula 1 to Saudi Arabia’s sovereign wealth fund, prompting FIA president Mohammed bin Sulayem to disclaim the exorbitant sum, sparking outrage from Formula 1. Not solely with the FIA.
The Formula 1 Group is a public firm with a present market capitalization of $16.2 billion. It consists of the variety of all shares multiplied by the present value, which is at present equal to 57.50 euros per share.
Shares are up eight p.c on takeover rumors and are simply 4.50 euros beneath their August 2022 peak, regardless of the present robust general financial setting. 2022 noticed a pointy decline in some circumstances, whereas Formula 1’s share, on the different hand, elevated by 5 p.c.
Liberty Media is owned by John Malone, however the firm is led by CEO Greg Maffei, who has beforehand competed in a number of Formula 1 races. The CEO of the Formula 1 enterprise, on the different hand, is Stefano Domenicali, who was once the managing director of Lamborghini, however is greatest generally known as the former head of the Scuderia Ferrari group from late 2007 to 2014.
When Liberty Media took over Formula 1 from Bernie Ecclestone in 2017, a triumvirate of managing director Chase Carey, sporting director Ross Brown and advertising director Sean Bratches was put in. However, neither man will stay in place after Brown retires at the finish of the 2022 season.