Saudi Arabia's $20 billion bid to buy F1 "still valid" - "open to raising it"

Liberty Media, the owners of F1, rejected a bid worth $20 billion (£16b) from Saudi Arabia to buy the sport.
Oscar Piastri (AUS) McLaren MCL36. Formula 1 Testing, Yas Marina Circuit, Abu Dhabi, Tuesday.
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Oscar Piastri (AUS) McLaren MCL36. Formula 1 Testing, Yas Marina Circuit…

The unsuccessful bid, placed in early-2022 according to Bloomberg, does not mean that the Saudis have given up. Far from it.

The Saudis, via their investment fund PIF, have told Liberty that their offer “is still valid” and that “they are even open to raising it”.

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Liberty Media purchased F1 in 2017 from Bernie Ecclestone.

Saudi Arabia are making big plays in sport - they have attracted Cristiano Ronaldo to their league recently, and own Newcastle United.

They already host the F1 Saudi Arabian Grand Prix and have shares in McLaren and Aston Martin’s teams.

Last year a missile struck just miles from the circuit during the F1 weekend.

“I am so happy the weekend is done,” Lewis Hamilton said afterwards. “I am so happy that everyone is safe, I am just looking forward to getting out. I just want to go home.”

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