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 | Mohammed bin Sulayem: FIA should participate in negotiations on possible sale of Formula 127-07-2024 |
FIA President Mohammed bin Sulayem commented on rumors about possible negotiations regarding the sale of Formula 1.
Recently, information appeared in the media that the state fund of Saudi Arabia last year expressed a desire to acquire Formula 1, offering just over $20 billion for the championship. At the same time, the current owners of F1 from Liberty Media refused to negotiate, noting that Formula 1not for sale.
As the custodians of motorsport, the FIA, as a non-profit organization, is wary of the allegedly inflated $20 billion price tag that has been slapped on Formula One.
Any potential buyer is advised to use common sense, think and act primarily in the best interests of the sport and present a clear, sustainable plan of action. Don`t just offer a lot of money.
It is our responsibility to think about such things. About what the consequences will be for the Grand Prix promoters in terms of increasing fees for racing and other business expenses. Think about any negative consequences this might have for the fans.
I believe you have to have a plan. You must have a plan, not just money. This is simply a rational approach to the issue, this is logic. For now, these are all just rumors anyway. But I also believe that the FIA should be involved in such negotiations - or at least offer advice, since the championship itself belongs to the FIA. Yes, we kind of rent it out. But I just want to set the record straight so we can all move forward, ” bin Sulayem said.