Formula 1 refused to be sold to a fund from Saudi Arabia for $ 20 billion

According to Western tabloids, the Saudi Arabian State Investment Fund offered $20 billion to buy Formula 1 from the current owners of Liberty Media.

However, the latter were not interested in the proposal, and negotiations broke down as soon as they began.

Liberty Media has owned F1 since 2016 when it bought it for $4.4 billion. However, the current brand value is estimated at more than 15 billion.

According to experts, against this background, Liberty Media, if it wanted to sell Formula 1, could count on at least a double price.

Moreover, the value of the brand is growing year by year. Accordingly, they did not like the sum of the Saudis.

Meanwhile, the buyers made it clear to the owners of the race that their offer is still valid, and they are ready to return to the negotiating table at any moment.