Liberty Media turns down Saudi Public Investment Fund
Liberty not interested in selling the premier motorsport series
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Saudi Arabia's PIF valued F1 at over US$20bn
Liberty Media bought the sport for US$4.4bn in 2017
Formula One owners Liberty Media have reportedly rejected an approach from Saudi Arabia's Public Investment Fund (PIF) to buy the series.
The PIF valued Formula One at more than US$20 billion, but Liberty Media is not currently interested in selling its increasingly profitable asset. The American media company originally bought the sport in 2017 for US$4.4 billion.
According to Bloomberg, the current market value of Formula One is around US$15.2 billion, highlighting the seriousness with which the bid from Saudi Arabia has to be taken.
The deal was explored last year but faltered early due to Liberty Media's …
