Breaking: Saudi Bid To Buy Formula One (Issue #46)
First off, do not worry this update will not replace the weekly Sunday Update. I just wanted to start doing a few special updates when there are timely news items or too much information that would overload the Sunday Update.
Liberty Media Formula One (NASDAQ: FWONK — $30.18b) purchased the sport of Formula One in 2017 for $4.4b. Since then Malone, Maffei, and many more have grown the sport throughout the world increasing its revenue and influence. Now Saudi Arabia attempted to offer Liberty “well over $20b" for the sport. The deal that started early last year has since fallen through, but the offer is encouraging. Formula One instead has since only increased its influence in the middle east with the recent addition of the Saudi Arabian GP in 2021 and talks of a Qatari GP being added.
With that little update/item out of the way back to our regularly scheduled newsletter.
Until Sunday,
Soren