The Saudi Public Investment Fund (PIF), which owns the football club Newcastle, and has a capital of 620,000,000,000 dollars, has sent an offer to the Liberty media company, which owns Formula 1, to buy the fastest circus in the world for 20,000,000,000 dollars. The answer has reportedly not yet arrived, but the Saudis who will organize the first race in 2027, even if they are rejected, do not want to give up, but are ready to raise the offer, i.e. to approach the sum of 30,200,000,0000, which is the estimated market value for F1.Saudi Arabia‘s Public Investment Fund remains interested in buying Formula 1 and would be a serious bidder should Liberty Media change its mind and decide to sell. #F1 #Formula1— Trackside Tales (@TracksideTales) January 22, 2023 As a reminder, Liberty media bought Formula 1 in 2017 for 4,400,000,000, but its value jumped every year. For example, Formula 1 ended the third quarter of 2022 with a profit of 187,000,000, which is three times more than in the same period a year earlier. This result occurred after a seven percent increase in revenue, to 715,000,000, while the adjusted gross operating result was 180,000,000, i.e. ten million more than in the same period in 2021.Wow: The Top 10 Biggest Sovereign Wealth Funds In The Middle East By Assets 🤯1. Abu Dhabi Investment Authority (ADIA) – $708.75 billion2. Kuwait Investment Authority – $708 billion3. Saudi Arabia’s Public Investment Fund (PIF) – $607 billion🧵 pic.twitter.com/lopGwrVfcZ— Eddie Donmez (@eddiedonmez) January 21, 2023 Formula 1 recently announced the calendar for the 2023 and 2024 seasons, consisting of 23 races (per year) as the organization decided not to seek a replacement for the Chinese Grand Prix. The competition will begin with the Bahrain Grand Prix and will conclude on November 26 with the Abu Dhabi Grand Prix. The main novelty is the Grand Prix of Las Vegas, which will take place on November 18, on the streets of the city of cubes, which last hosted Foprmula 1 cars more than four decades ago, i.e. since 1982, when the Italian Michele Alboreto celebrated in the car of Tyrell Ford.##NAJAVA_MECA_6961638##
