Forbes have listed Formula 1 owners Liberty Media as the ‘World’s Most Valuable Sports Empire’ for 2023, valuing the company’s sporting assets at almost $21 billion [£16.8bn].
The global business magazine unveiled its list of the 25 most valuable companies in the world of sport, and Liberty’s ownership of Formula 1 among its other sporting interests puts its assets firmly at the top of the list, with Forbes listing F1’s current market value at $17.1bn.
Liberty Media took on Formula 1 in 2017 and its value has purportedly quadrupled in that time from the price Liberty paid, with the success of Netflix docuseries Drive To Survive being credited as a big reason behind a growing audience in the United States and beyond.
With a reported $20bn bid for the sport from Saudi Arabia’s Public Investment Fund having come in, and subsequently rejected, this represents a 15% increase on the Forbes valuation of Formula 1.
In its announcement of their rankings, Forbes wrote: “Formula 1 had a banner 2022, averaging 1.21 million viewers across the ESPN family of networks, the highest on record for the series, and signed a new television deal in June reportedly worth at least $75 million a year, 15 times its previous deal.
“No wonder Saudi Arabia’s Sovereign Wealth Fund considered acquiring Formula 1 for $20 billion last year, according to Bloomberg.”
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Forbes’ top 10 Most Valuable Sports Empires 2023
(Selected owned companies appear in brackets)
1: Liberty Media (Formula 1, Atlanta Braves, Drone Racing League, Meyer Shank Racing) – $20.8bn
2: Kroenke Sports & Entertainment (Arsenal FC, Denver Nuggets, Colorado Rapids) – $12.75bn
3: Jerry Jones (Dallas Cowboys, The Star) – $11.32bn
4: Fenway Sports Group (Liverpool FC, Boston Red Sox, Pittsburgh Penguins) – $10.4bn
5: Madison Square Garden Sports (New York Knicks, New York Rangers) – $9.17bn
6: The Kraft Group (New England Patriots, New England Revolution) – $7.94bn
7: Yankee Global Enterprises (New York Yankees) – $7.64bn
8: Glazer Family (Manchester United, Tampa Bay Buccaneers) – $7.53bn
9: Paul G. Allen Trust (Seattle Seahawks, Portland Trail Blazers) – $7.41bn
10: Maple Leaf Sports & Entertainment (Toronto Raptors, Toronto Maple Leafs, Toronto FC) – $6.42bn