F1 Tensions With FIA Surface Over 'Inflated Price Tag' Row [Barron's]
Liberty Media Corporation - Series A Liberty SiriusXM (LSXMA)
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Source: Barrons
F1 is basking in a resurgence of popularity, fuelled by the exploits of its leading actors Lewis Hamilton and Max Verstappen, adrenaline-sapping wheel-to-wheel racing, and an expanding fanbase driven in part by the success of Netflix's fly-on-the-pitlane-wall series "Drive To Survive". Yet purported Saudi interest in adding F1 to its growing sport-portfolio beyond LIV Golf and the Premier League has triggered a row that threatens to act as a damaging backdrop to the 2023 season just weeks away from the opening race in Bahrain. It was a tweet from FIA president Mohammed Ben Sulayem on Monday that ignited Liberty Media's indignation. Ben Sulayem described as "an inflated price tag being put on F1" a report in Bloomberg that Saudi Arabia's Public Investment Fund (PIF) had tried and failed to buy F1 for $20 billion. Despite respected F1 media outlet motorsport.com suggesting a Saudi bid was "wide of the mark" Ben Sulayem's intervention sparked an angry response from Liberty Media
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LSXMA
Sec Filings
- 5/8/24 - Form 8-K
- 5/8/24 - Form 10-Q
- 5/8/24 - Form SC
- LSXMA's page on the SEC website