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Liberty Media react to Saudi Arabia buyout
Liberty Media CEO Greg Maffei has ruled out selling Formula 1 to Saudi Arabia’s Public Investment Fund, silencing rumours of a $20 billion deal. Formula 1 has been thriving in recent years, as its popularity in America has seen the sport’s commercial success grow exponentially. Saudi Arabia is already on the Formula 1 calendar, with the Saudi Arabian Grand Prix around the Jeddah Cornich Circuit featuring on the calendar since 2021. The country is looking to grow its role in the industry through a second race, planned for the city of Qiddya. Want to work in Formula 1? Browse the latest F1 job vacancies Saudi Arabia’s state-owned oil and gas company Aramco is also a key sponsor of the...
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10mo ago from Formula1News.co.uk
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