How Saudi Arabia aims for billions of dollars to dominate Formula 1

The popularity of Formula 1 has skyrocketed in recent years and it has not gone unnoticed. Saudi Arabia, where the Grand Prix will take place next weekend, is aiming to take over the F1 rights. The first attempt failed, but that didn’t stop the boat completely.

In early 2017, Liberty Media bought the racing series for $4.4 billion. Since then, the company has greatly increased the entertainment factor of the racing series. Consider adding new races in the US, for example, but also collaborating with Netflix on the hit series Drive to Survive.

Formula 1 as a business card

The number of viewers has increased, despite the fact that racing series have become less easy to watch for free. German and British channels no longer broadcast all races for free. For the Dutch, it is therefore a choice between ViaPlay or F1 TV Pro.

Saudi Arabia has also noted that the racing category is becoming popular. Racing in the desert country has been on the calendar since 2021. It seems Formula 1 racing isn’t enough as Saudi Arabia’s calling card. The Arab country wants more. Everything.

3 amendments in Saudi Arabia after the absurd Formula 1 race in 2021

Last month, an investment fund from Saudi Arabia showed serious interest in commercial rights. How serious? $20 billion seriously. It should be clear that the country sees the money in Formula 1.

Strangely enough, it was not Liberty Media, but FIA President Ben Sulayem who was the first to agree to this huge offer. On social media, Slim said the FIA ​​is the umbrella governing body for Formula 1. “Use common sense and create more than just money,” he said.

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Liberty Media is outraged

This has gone the wrong way at Liberty Media. The company owns the commercial rights to Formula 1 and can therefore decide for itself what to do with it. The FIA ​​is not about that. “Slim has interfered in our affairs in an unacceptable manner,” the company wrote in an official letter to the FIA.

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For Liberty Media, that could mean a return of more than 354% in just six years. This is a good investment and it looks like an attractive proposition. However, he thanked the current owner. You may also see Liberty Media itself cash cowThe opportunities offered by Formula 1.

Saudi Arabia and the “sport of washing”

Recently we have seen more and more Arab countries showing great interest in the popular sport. Think of the World Cup in Qatar at the end of last year and the English clubs bought by the nations. For example, an investment fund from Saudi Arabia acquired Newcastle United football club last year. Read more about the phenomenon ‘Sports wash“.

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How Saudi Arabia aims for billions of dollars to dominate Formula 1

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