Formula 1

Saudi Arabian fund reportedly explored possibility of buying F1

Published

January 21, 2023

JEDDAH, SAUDI ARABIA - MARCH 27: A general view over the grid preparations showing Pole position qualifier Sergio Perez of Mexico and Oracle Red Bull Racing preparing to start the race during the F1 Grand Prix of Saudi Arabia at the Jeddah Corniche Circuit on March 27, 2022 in Jeddah, Saudi Arabia. (Photo by Clive Mason/Getty Images)

Saudi Arabia’s Public Investment Fund is interested in potentially purchasing Formula 1, according to recent reports.

The Public Investment Fund is the sovereign Saudi Arabian fund that is known for its investments in sports, including the takeover of Newcastle United in 2021. The fund reportedly turned its attention to purchasing Formula 1.

According to Bloomberg, the fund reached out to F1 owner Liberty Media about a possible buyout. However, they declined the proposal as they are not interested in selling F1.

Nevertheless, the fund still wants to purchase the championship and could be among the favorites in case Liberty Media decides to sell F1.

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