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Saudi Arabia wealth fund explored $20M bid for Formula 1
Saudi Arabia's sovereign wealth fund reportedly held talks with Formula 1 last year as it considered a bid to acquire the sport from its current commercial rights holder Liberty Media. According to Bloomberg, Saudi Arabia's Public Investment Fund (PIF) valued Formula 1 in excess of $20 billion including debt, a figure well above the $4.4 billion paid by John Malone's Liberty Media for the sport in 2017. However, from the outset, it was made clear by Liberty to the Kingdom's PIF that Grand Prix racing was not for sale. Prince Khalid Bin Sultan Al Faisal (KSA) President of the Saudi Automobile and Motorcycle Federation. Despite the rebuff, Saudi's wealth fund remains interested in F1, an...
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