Since Liberty Media acquired the sport in 2017 for $4.2 billion, Formula 1 has grown exponentially to the point that it has had no desire to sell the sport at all for now.
The launch of the Netflix series Drive to Survive helped attract a large number of fans, increasing demand for tickets and adding more races to the calendar.
Without a doubt, the spectacular conclusion to the 2021 season helped get much of the world talking about the sport – whether the spotlight was positive or not.
Rumors that the Saudi Arabian PIF had made a bid for the sport in January surfaced but were never confirmed. FIA President Mohammed Ben Sulayem warned against the assessment in a tweet, sparking a controversy that later died down.
Maffei: Every sale “very unattractive”
In the Walker webcast, Maffei discussed the current structure of Formula 1 and what a sale should look like.
“We’re a C corporation, which means if we sell a business we pay corporate income tax and any proceeds that we would pay to be distributed to our shareholders would also be subject to tax.
“If we spun off Formula 1, we would start a separate company and wait a while [amount] from time, [and] They have no plan or intention to sell – this asset could later be sold and there would be no corporate tax.
“So what me [am] That said, the way we’re structured today, given that tax base, we wouldn’t be sellers,” he said.
With Formula 1 on the rise, it’s hard to see why they should be big sellers. Stefano Domenicali wants to expand the calendar, which will add more value to the sport.
“If we want to be a seller, or even consider being a seller, we have to do a trick and there are other reasons we might do that – it’s not just about making a sale, it’s about the way as we are.” structured, that would be very unattractive.
“And frankly, $20 billion wouldn’t be an attractive price. It is the 17th/18th [billion], so why 20? I would wish for a hell of a lot more! We are quite optimistic about the future.”
Confirmation that owners will stay for a while should bring comfort to teams and drivers as F1 continues to thrive.
With a record number of races set to take place next year, fans can rest assured that despite Red Bull’s dominance, things are set to be even more exciting in the future.
READ MORE: F1 driver salaries: How much do Hamilton, Verstappen and Co earn?
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