Liberty Media, owners of Formula 1, has one of the most valuable 'sports empires' in 2024, according to Forbes.
The mass media company owns F1 along with other ventures including Overtime Sports, F1 Arcade, Drone Racing League, Kroenke Arena, and Meyer Shank Racing.
Forbes values the sports empire at $18.22 billion and it takes the top spot ahead of Kroenke Sports and Entertainment who own Arsenal FC and LA Rams, and Fenway Sports Group who own Liverpool Football Club.
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Liberty Media valuation down
However this is still a decrease year-on-year according to Forbes, due to assets that were spun off in the last 12 months.
Liberty Media's previous valuation was at $20.8 billion in 2023, after also being ranked the most valuable sports empire for that year.
"The aggregate value of Liberty’s ownership stakes in its sports assets fell 12%, to $18.2 billion but it still maintains the top spot on our list. Liberty, declined in value this year because it spun off the Atlanta Braves (current enterprise value: $2.6 billion) last July."