Rumor: Saudi Arabian group eyes F1 takeover (Update)
As COVID continues to compromise the schedule, unconfirmed reports suggest that F1 has had to take on a number of loans including loans against future sponsor income. F1 has become a drain on Liberty’s balance sheet, and they may want out
Ironically, the Saudis are now at the door with their suitcases for a takeover from the Americans, but their serious human rights issues are likely to cause quite a stir if this rumor has any real teeth.
Whether the Saudi bid goes ahead or not remains to be seen, but we hear that if it happens it could be in the coming weeks, though there is understood to be a certain amount of “in-fighting” between members of the ‘consortium’, writes Pitpass
September 13, 2021
(GMM) A group from Saudi Arabia is reportedly poised to buy Formula 1’s commercial rights from Liberty Media.
“There could be even more GPs in the Asian region soon,” revealed veteran F1 journalist Roger Benoit, writing for the Swiss newspaper Blick.
“Why? Because the Saudis will soon take over Formula 1 from Liberty.”
He said Formula 1 “hasn’t evolved much” since Liberty took over and ousted the sport’s former supremo Bernie Ecclestone in 2017.
“As expected, Chase Carey ceded his chief post. The Americans seem to have lost interest in their multi-billion dollar toy.
“Ironically, it’s the Saudis who are now at the door with their suitcases for a takeover. The ten European based teams and many race organizers now need to be careful.
“Qatar, Bahrain, Abu Dhabi and Saudi Arabia send their regards,” Benoit quipped.