Saudi Arabian sovereign-wealth fund offered over $20 billion for F1 last year.
Saudi Arabia has made big plays in the world of global sports in an attempt to raise its profile on the world stage. Its public oil company Aramco sponsors F1 and is title sponsor for the Aston Martin team, and the country held its first Formula 1 Grand Prix in 2021, but it has much greater ambitions with the sport.that the country's Public Investment Fund made a $20 billion-plus offer to buy F1 from current owners Liberty Media last year. The U.S.
Bloomberg says the PIF is still very interested in buying F1, and it would put in a bid if and when Liberty decides to sell. But, as F1 explodes in popularity around the world, Liberty might not want to give up the property. A Liberty Media tracking stock for F1—a stock that tracks the performance of a business unit, in this case, F1—currently has a market capitalization of $16.7 billion.
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