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 presently experiencing an unprecedented increase. The racing sequence opens up massive markets like China and USA. Especially within the States, the hype surrounding the premier class of motorsports is large – additionally because of the large success of the Netflix sequence “Drive to Survive”, which is able to premiere its fifth season on February 24.

The first photos of the fifth season of “Drive to Survive” are already accessible. 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 stated to be 5 instances 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 supply, in line with Bloomberg. So far, neither Formula 1 nor Saudi Arabia have commented on the rumours. The FIA, the world motorsport affiliation, is already within the individual of its president, Mohammed Ben Sulayem.

FIA chief Ben Sulayem warned of consequences for followers

Although he could not verify this data both, he defined what he thinks concerning the FIA’s alleged takeover plans. “Any potential purchaser have to be cheap and take into account the larger 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 process is to offer the promoters with excessive racing charges and different industrial prices and any damaging influence it might 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 might then pay extra to host matches and could also be pressured to cross on new charges to followers, for instance within the type of increased ticket costs.

Sulayem considers the proposed proposal “extreme”.

The head of the FIA ​​assessed the alleged supply 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 neighborhood must be on the desk for doable discussions about the way forward for Formula 1. “For now it is only a hearsay. But I feel the FIA ​​must be a part of these talks or give recommendation.”

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