FIA: Potential F1 buyers should 'apply common sense'

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."