Under the leadership of Liberty Media, Formula 1 has become increasingly popular in recent years. The Americans put the sport on the map around the world, but in recent months there have been increasing rumors of a possible sale. However, according to Liberty Media CEO Greg Maffei, this is nonsense.
Liberty Media has taken several steps in recent years to make the premiere class of motorsports more popular. They were the birthplace of the well-watched Netflix series ‘Drive to Survive’ and have subsequently capitalized on its growing popularity in the US. The consequences of this are clearly visible this year, after all there are three Grand Prix races on American soil in the calendar.
Earlier this year, there were stories of interest from Saudi Arabia. An investment fund wants to acquire sports for $1 billion. Liberty Media denied this, and CEO Greg Maffei explained it back to MoffettNathanson’s conference: “As Liberty Media, we’re incredibly excited about Formula 1 and the state the sport is in. We’re also pleased with the direction we’re going. Look at the popularity and turnover, it’s all going In the right direction. Those who know us know we’re not going to sell the sport.”
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