Forbes has named Formula 1 owners Liberty Media the ‘World’s Most Valuable Sports Empire’ for 2023, valuing the company at nearly $21 billion [£16.8bn].
The global business magazine unveiled its list of the 25 most valuable companies in the sporting world, and Liberty’s ownership of Formula 1 alongside its other sporting interests puts it firmly at the top of the list, with Forbes citing F1’s current market value at $17.1 billion. .
Liberty Media took on Formula 1 in 2017 and its value has grown significantly in that time, with the success of Netflix docuseries Drive to survive is seen as a major reason behind a growing audience in the United States and abroad.
With a reported $20 billion bid for the sport from Saudi Arabia’s public investment fund, this represents a 15% increase over Formula 1’s Forbes valuation.
Announcing their rankings, Forbes wrote: “Formula 1 had a banner 2022, averaging 1.21 million viewers across the entire ESPN family of networks, the highest ever recorded for the series, and in June signed a new television deal worth reportedly worth at least $75 million a year, 15 times the previous deal.
No wonder Saudi Arabia’s Sovereign Wealth Fund considered buying Formula 1 for $20 billion last year, according to Bloomberg.
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Forbes’ top 10 most valuable sports empires 2023
(Selected owned companies are in parentheses)
1: Liberty Media (Formula 1, Atlanta Braves, Drone Racing League, Meyer Shank Racing) – $20.8 billion
2: Kroenke Sports & Entertainment (Arsenal FC, Denver Nuggets, Colorado Rapids) – $12.75 billion
3: Jerry Jones (Dallas Cowboys, The Star) – $11.32 billion
4: Fenway Sports Group (Liverpool FC, Boston Red Sox, Pittsburgh Penguins) – $10.4 billion
5: Madison Square Garden Sports (New York Knicks, New York Rangers) – $9.17 billion
6: The Kraft Group (New England Patriots, New England Revolution) – $7.94 billion
7: Yankee Global Enterprises (New York Yankees) – $7.64 billion
8: Glazer Family (Manchester United, Tampa Bay Buccaneers) – $7.53 billion
9: Paul G. Allen Trust (Seattle Seahawks, Portland Trail Blazers) – $7.41 billion
10: Maple Leaf Sports & Entertainment (Toronto Raptors, Toronto Maple Leafs, Toronto FC) – $6.42 billion