Welcome at RacingNews365

Become part of the largest racing community in the United Kingdom. Create your free account now!

  • Share your thoughts and opinions about F1
  • Win fantastic prizes
  • Get access to our premium content
  • Take advantage of more exclusive benefits
Sign in

FIA: Potential F1 buyers should 'apply common sense'

President Mohammed Ben Sulayem has responded to the rumours that F1 could be sold for $20 billion to Saudi Arabia, saying any potential buyer is "advised to apply common sense" instead of "a lot of money."

FIA President Mohammed Ben Sulayem has responded to the rumours of Formula 1 being sold to the Saudi Arabian Wealth fund. Reports emerged that the country considered an attempt to add F1 to their growing portfolio of sports investments for a price tag of 'over $20 billion', having recently taken over Newcastle Football Club in the English Premier League. Liberty Media has been F1's commercial rights owner since 2017, after completing its purchase for $4.4 billion. The Saudi Arabia Public Investment Fund reportedly approached Liberty over an agreement, but any potential deal collapsed in the early stages of last year. In a statement put on social media, the FIA President said the governing body is: "cautious about alleged inflated price tags of $20bn being put on F1" following the reports. He added: "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."

1617548572810960896

As the custodians of motorsport, the FIA, as a non-profit organisation, is cautious about alleged inflated price tags of $20bn being put on F1. (1/3) — Mohammed Ben Sulayem (@Ben_Sulayem) January 23, 2023

x
LATEST Verstappen facing severe penalty for Belgian GP