Greg Maffei, CEO of Liberty Media, assured that Formula 1 is not for sale. He returned to this topic recently when speaking at a business conference in New York hosted by Moffett Nathanson.
Rumors circulated early this year that Liberty had turned down a $20 billion offer from the Saudi Arabian sovereign wealth fund to sell Formula 1 shares.
Maffei has already said that this whole story is absolutely not true, but now he has commented in more detail.
“Is there a chance that we will sell Formula 1, after which we will have to pay corporate tax? The London newspaper The Mirror quotes him. “Those who know us should understand that this is not part of our plans. This should put an end to any discussion that our friends in Saudi Arabia are willing to buy Formula 1 next week or anything like that.
We are very happy with the current state of affairs in Formula 1, and the prospects for the future. If you look at the level of income, things are going very well. The TV audience is growing and the number of distributors promoting our product has also increased, also in the digital sphere. There are our partners among race promoters.
We have been able to add new races to the championship calendar and there may be room for another Grand Prix. The volume of sponsorship has also grown strongly, we have signed contracts with several global sponsors. I think the number of partners at this level has grown from five to twelve.
We see good prospects, new opportunities are emerging with what we are preparing in Las Vegas, where we ourselves are the promoter of the Grand Prix, and we can learn a lot from this.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
