In 2021, Formula 1 managed to enter two thousand 136 million dollars.
In 2021, the global audience for Formula 1 was 445 million viewers.
In 2019, the Mexican Grand Prix generated a spill of almost 17 billion pesos.
The sports industry is one of the fastest growing in the world, especially in competitions such as Formula 1. Recently, it was revealed that Saudi Arabia is looking to buy the racing car from Liberty Media, the owner.
The popularity of this competition has grown over the years, and is currently booming all over the world, and moves a lot of money around the world. According to data from its same report, the global audience in 2021 was 445 million viewers, an increase of approximately three percent over the previous year.
Likewise, among the relevant data in 2021, Formula 1 managed to enter two thousand 136 million dollars, despite the Covid-19 pandemic.
Saudi Arabia wants to buy Formula 1
According to Bloomberg, there has been a formal offer for 20 billion dollars, where the Middle Eastern country is involved.
As mentioned by the American media, the Public Investment Fund (PIF), contacted the company to study a possible sale.
In the midst of the news, it was revealed that Liberty Media showed a first forceful negative before a possible purchase of Formula 1, who in recent years has won several prizes in the Middle East, with his career in Qatar, Saudi Arabia and in 2024 will join the Bahrain Grand Prix.
The refusal of the company behind the franchise could be due to the fact that during the last year, Liberty Media’s Formula 1 shares have skyrocketed, reaching an increase of 12.6 percent. Then now, the stock’s value has doubled since 2019 and it has a current market value of $30.2 billion.
Let’s remember that when the company acquired the competition, it did so for 4.4 billion dollars in 2017, which is why the broad growth in numbers is reflected, which can range from sponsorships to ticket revenue.
In that sense, the current holder of the commercial rights of the sport received the rights in 2017 and the category has grown enormously since then. Despite the blow it suffered during the pandemic, the premier class is currently valued at about $15.2 billion.
Specialists point out that Saudi Arabia’s offer of 20 billion dollars would mean an increase of more than three times the purchase price.
In recent years, the Middle East has been dabbling in the sports industry, where businessmen have bought soccer teams like the Paris Saint-Germain, which belongs to the Qatar Investment Authority (QIA), a Sovereign Investment Fund founded in 2005 by the former Emir of Qatar, Hamad bin Khalifa Al-Thani, which is in charge of managing and investing the profits generated by the oil and natural gas both inside and outside the country.
Or the latest movement in sports, such as the controversial and high-profile purchase of Cristiano Ronaldo, to play for the Al Nassr team, signed until June 2025 with a contract of more than 200 million per season.
And this is how, each time, the sports industry in particular continues to be a business for businessmen and millionaires in the world, who see the great scope it has, so generating more money is not difficult.
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