F1 owner Liberty Media termed as the most valuable sports empire by Forbes
Liberty Media, the American giant which owns F1 was recently labeled as the most valuable sports empire by Forbes
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F1 logo on top of the starting lights before a race (via Planetf1).
Formula 1 has skyrocketed in popularity in recent years. F1’s commercial rights owner Liberty Media has also topped the Forbes Top 25 list in the past. However, the sport’s newfound growth and the corporation’s ventures in other sports have helped the American giant take the top spot at yet another Forbes list.
Liberty Media recently lost around 12% of the company’s value due to the separation with the MLB team Atlanta Braves. However, this loss wasn’t enough to make a major dent in the company’s value. Liberty Media was termed as the ‘most valuable’ sports empire by Forbes for 2024.
The corporation’s success has also helped other stakeholders of the company such as Stephen Ross. Ross is the promoter of the Miami GP and also owns the Hard Rock stadium around which the circuit runs. Hence, Ross found his place in the 16th spot of the Forbes Top 25, partly due to his $6.91 Billion assets in multiple sports.
Liberty Media has played a massive role in Formula 1’s success
Formula 1’s recent hit can be massively attributed to Liberty Media’s involvement in the process. The American giant brought multiple changes to the sport, that shaped it to be what it is today. The sport has seen an increase of 58% in viewership courtesy of F1 TV and a broadcasting deal with ESPN. Additionally, Liberty Media also capitalized on American involvement in the sport to reap massive benefits to F1.
The extended amount of American involvement in the sport has propelled the success of Formula 1 in recent times. The Las Vegas GP was one such event organized by Liberty Media that gained massive amounts of benefits to the sport. Also, the mega-popular Netflix Docuseries Drive to Survive which increased viewership many folds, was bought all thanks to the American giant.
Hence, Liberty Media has been a great asset for Formula 1 ever since its inception. Hence, with many new changes and developments being bought regularly, the sky is the limit for F1. Many new heights and achievements are yet to be achieved by the ever-growing sport, and Liberty Media would be helping F1 throughout the way.
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Aditya Pandya
(1440 Articles Published)