Saudi Arabia’s sovereign wealth fund considered an attempt to add Formula 1 motor racing to its growing portfolio of sports investments, people familiar with the matter said.
A potential deal faltered in the early stages last year as F1’s owner Liberty Media Corp. was not interested in selling the high-profile franchise, which Saudi Arabia’s Public Investment Fund valued at well above $20 billion including debt, the people said.
The PIF remains interested in the asset and would be a serious bidder should Liberty Media change its mind and decide to sell, the people said, asking not to be identified discussing confidential information.
Representatives for PIF and Liberty Media didn’t respond to requests for comment.
No comments:
Post a Comment