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Formula 1

Ben Sulayem voices concerns about reported F1 buyout price

FIA president Mohammed Ben Sulayem has voiced concerns about the “exaggerated” $20 billion Formula 1 valuation.

A report by Bloomberg suggested that a Saudi Arabian wealth fund was interested in acquiring the series for $20 billion. However, there have been indications that these negotiations never got to a serious point, and that Liberty Media -F1’s current owners, who originally bought the championship for $4.4 billion- rejected the proposal.

In spite of these reports, Ben Sulayem commented on his Twitter account that any new potential buyer of the series should have a long-term, sustainable plan, and not “just a lot of money,” which could affect promoters and fans if prices are increased to recover the investment costs.

“As the custodians of motorsport, the FIA, as a non-profit organization, is cautious about alleged inflated price tags of $20bn being put on F1,” he said.

“Any potential buyer is advised to apply common sense, consider the greater good of the sport and come with a clear, sustainable plan – not just a lot of money.

“It is our duty to consider what the future impact will be for promoters in terms of increased hosting fees and other commercial costs, and any adverse impact that it could have on fans.”

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