Forbes have listed Formula 1 owners Liberty Media as the ‘World’s Most Valuable Sports Empire’ for 2023, valuing the company at almost $21 billion [£16.8bn].
The global business magazine unveiled its list of the 25 most valuable companies in the world of sport, and Liberty’s ownership of Formula 1 among its other sporting interests puts it firmly at the top of the list, with Forbes listing F1’s current market value at $17.1bn. Liberty Media took on Formula 1 in 2017 and its value has grown significantly in that time, with the success of Netflix docuseriesbeing credited as a big reason behind a growing audience in the United States and beyond.
With a reported $20bn bid for the sport from Saudi Arabia’s Public Investment Fund having come in, this represents a 15% increase on the Forbes valuation of Formula 1.: “Formula 1 had a banner 2022, averaging 1.21 million viewers across the ESPN family of networks, the highest on record for the series, and signed a new television deal in June reportedly worth at least $75 million a year, 15 times its previous deal.
“No wonder Saudi Arabia’s Sovereign Wealth Fund considered acquiring Formula 1 for $20 billion last year, according to Bloomberg.”