Whoever wants to take over Formula 1 rights must pay an astronomical sum

Formula 1 is owned by Liberty Media. President Greg Maffei was asked by Walker Webcast about the possible price tag of the king class. One thing is certain: money has to be thrown around.

A Saudi group reportedly had 20 billion dollars to buy over the rights of Formula 1 from the Liberty group, while Liberty Media itself paid "only" €4.2 billion for the sport in 2016.

Speaking to Walker Webcast, Maffei denied the Saudi bid. "The Saudis have been partners [with us] on a couple of things. they have a race and Aramco is a sponsor, but they never approached us," the American businessman stated.

Formula 1 not for sale

He is quick to add that such a bid, of 20 billion, would never be accepted. "20 billion would not be an attractive price. It’s trading for 17 to 18 billion, so why [accept] 20? I would want a hell of a lot more than that." Liberty Media has no plans at all to sell Formula 1. "We are pretty bullish on the future," Maffei concludes positively.