F1 CEO Stefano Domenicali insists that Formula One is not up for sale despite reports of $20 billion bid
A $20 billion offer was made by Saudi Arabia’s investment fund last year to purchase F1 from its current owners, Liberty Medi𝕴a, according 🌱to Bloomberg.
That led FIA president Mohammed Ben Sulayem to query the huge price-tag - lawyers on behalf of F1 wrote h🐟im a letter to accuse him of commenting on issues outside of his remit.
Asked if F1 📖was up for sale, Domenicali told Sky: “I should ask my shareholder, but I don’t think so.
“We are investing in F1. You 𝔉saw what real money we have put into Las Vegas, land for $240m. We will invest half a billion there.”
F1 purchased land in Vegas and will spend a total of $500m on the site of the new grand prix, a new business strategy which devia🐠tes from working alongside local promoters.
“We are happy,” Domenicali said. “It is the jewel of the portfol♊io. They are comfortable in what we are doing.
“We are delivering a good job.”
James was a sporꦚts journalist at Sky Sports for a decade covering everything from American sports, to football, to F1.
