FIA worried about $20bn F1 buyout bid

The president of F1’s governing body is concerned that the financial value of the sport is being dangerously inflated. Earlier, Bloomberg reported that the sport’s current American owners Liberty Media turned down an audacious $20 million buyout bid. Liberty Media bought Formula 1 in 2017 for $4.6 million, raising FIA president Mohammed Ben Sulayem’s suspicions that the value is being artificially inflated. “As the custodians of motorsport, the FIA, as a non-profit organisation, is cautious about alleged inflated price tags of $20bn being put on F1,” he said. “It is our duty to consider what the future impact will be for promoters in terms of increased hosting fees and other commercial costs, and any adverse impact that it could have on fans,” Ben Sulayem added.

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