Jan.30 (GMM) The company that controls Formula 1’s commercial rights is the most valuable sports empire on earth.
That is the finding of the renowned business magazine Forbes, who despite a year-on-year value drop of 12 percent for Liberty Media nonetheless list F1’s American owners at being worth a staggering $18 billion.
Alongside many other media and entertainment assets, Liberty also controls SiriusXM, Live Nation, and the major league baseball team Atlanta Braves.
It all makes Liberty Media worth $3 billion more than Kroenke Sports’ array of sports teams, including Arsenal FC, and $5bn more than Fenway Sports Group – similar to Kroenke with assets including Liverpool FC.