F1 CEO Stefano Domenicali insists that Formula One is not up for sale despite reports of $20 billion bid
A $20 billion offer was made by Saudi Arabia’s investment fund las♔t year to purchase F1 from its current owners, Liberty M🐼edia, according to Bloomberg.
That led FIA president Mohammed Ben Sulayem to query the huge price-tag - lawyers on behalf of F1 wrote himꦜ a lette🐬r to accuse him of commenting on issues outside of his remit.
Asked if F1 𝕴was up for sale, Domenicali told Sky: “I should ask my shareholder, but I don’t think so.
“We are investing in F1. You saw what real money we have pꦆut into Las Vegas, land for $240m. Weဣ will invest half a billion there.”
F1 purchased land in Vegas and will spend a total of $500m on the site of the new gran෴d prix, a new business strategy which deviates💫 from working alongside local promoters.
“We are happy,” Domenicali said. “It is the je🅠wel of th🧸e portfolio. They are comfortable in what we are doing.
“We are delivering a good job.”
James was a sports journalist at Sky Sports for a decade covering ever🦩ything from American sports, to football, to F1.
