FIA president Mohammed Ben Sulayem says that any potential suitor interested in buying Formula 1 should consider “the greater good” of the sport and apply “common sense” to their purchase.
Last week, Bloomberg reported that the Saudi Arabian wealth fund explored an option to buy the sport for $20 billion in 2021.
The rumoured figure is over five times what current owners Liberty Media paid to take over ownership in 2017.
F1’s popularity has boomed in recent years, largely owing to the success of Netflix’s Drive To Survive docu-series.
As a result of the increased interest and worldwide coverage, the value of the sport has likely grown since Liberty’s takeover, but Ben Sulayem says that the FIA is cautious over the valuation outlined in the report.
Taking to Twitter, he said that potential new owners should consider the well-being of F1 for venues and fans if such a figure was applied to acquire the sport.
“As the custodians of motorsport, the FIA, as a non-profit organisation, is cautious about alleged inflated price tags of $20bn being put on F1,” he wrote.
“Any potential buyer is advised to apply common sense, consider the greater good of the sport and come with a clear, sustainable plan – not just a lot of money.
“It is our duty to consider what the future impact will be for promoters in terms of increased hosting fees and other commercial costs, and any adverse impact that it could have on fans.”
Saudi Arabia has increased its sporting portfolio in recent years as it has hosted major boxing and gold tournaments as well as a grand prix in Jeddah.
F1’s Saudi Arabian race made its debut in 2021 and is currently contracted until 2027.
