HomeNewsFinance & LawMotorsportGlobal

F1, Liberty Media angered by FIA president’s valuation remarks

Mohammed ben Sulayem, FIA president, looks on from the podium during the F1 Grand Prix of USA (Photo by Chris Graythen/Getty Images)

A letter sent by Formula 1 and its owner Liberty Media has accused International Automobile Federation (FIA) president Mohammed Ben Sulayem of overstepping the bounds of the governing body’s remit after his comments regarding the “inflated” price tag of the series.

Earlier this week, Ben Sulayem (pictured) tweeted that the FIA is “cautious about the inflated price tags of $20bn (€18.4bn)” being placed on F1. It followed a report last week claimed that Saudi Arabia’s Public Investment Fund (PIF) last year explored a bid to acquire F1, valuing the series at well over $20bn including debt.

You need to have an account to access our content

Find out more about our news, features and services

Already have an account? Sign in here

Related News

Motorsport
Business

Jean Todt has today (Friday) been re-elected as president of the International Automobile Federation (FIA) after standing unopposed for the top position at motorsport’s world governing body.

Motorsport
Business

Jean Todt is set to be re-elected as president of the International Automobile Federation (FIA) after motorsport’s world governing body confirmed he will face no competition in next month’s elections.

Motorsport
Business

International Motor Sport Federation (FIA) presidential candidate David Ward has revealed that he would withdraw his bid for current president Jean Todt’s role should Mohammed Ben Sulayem enter the race.

Motorsport
Business

The World Touring Car Championship (WTCC) motor-racing series has rebranded as the World Touring Car Cup (WTCR) through a licensing agreement with rival championship TCR.