by 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.
PlanetF1.com recommends
F1 tires explained: all technical info and important Pirelli compounds
Is Fernando Alonso about to turn Aston Martin from nice losers into ugly winners?
Rumors of the partnership with Red Bull Ford escalate ahead of the New York City launch
FIA president Mohammed Ben Sulayem was criticized by Formula 1 itself for allegedly overstepping his remit as head of the governing body by commenting on commercial matters, after reports of a bid from Saudi Arabia surfaced.
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
