Forbes has listed Formula 1 owners Liberty Media as the “world’s most valuable sports empire” for 2023, valuing the company at nearly $21 billion [£16.8bn].
The global business magazine has 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 places it firmly at the top of the list, with Forbes listing the current value F1 market share at $17.1bn.
Liberty Media took on Formula 1 in 2017 and its value has grown significantly in that time, with the success of Netflix docuseries Drive to survive be credited as a big reason behind a growing audience in the US and beyond.
With a reported $20bn bid for the sport from Saudi Arabia’s Public Investment Fund, this represents a 15% bump on Formula 1’s Forbes valuation.
In announcing their rankings, Forbes wrote: “Formula 1 had a banner in 2022, averaging 1.21 million viewers across the ESPN family of networks, the highest ever for the series, and signed a new TV deal in June reportedly worth at least $75 million a year, 15 times his previous deal.
“No wonder Saudi Arabia’s Sovereign Wealth Fund considered a $20 billion takeover of Formula 1 last year, according to Bloomberg.”
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Forbes Top 10 Most Valuable Sports Empires 2023
(Selected owned companies are shown in parentheses)
1: Liberty Media (Formula 1, Atlanta Braves, Drone Racing League, Meyer Shank Racing) – $20.8 billion
2: Kroenke Sports & Entertainment (Arsenal FC, Denver Nuggets, Colorado Rapids) – $12.75 billion
3: Jerry Jones (Dallas Cowboys, The Star) – $11.32 billion
4: Fenway Sports Group (Liverpool FC, Boston Red Sox, Pittsburgh Penguins) – $10.4 billion
5: Madison Square Garden Sports (New York Knicks, New York Rangers) – $9.17 billion
6: The Kraft Group (New England Patriots, New England Revolution) – $7.94 billion
7: Yankee Global Enterprises (New York Yankees) – $7.64 billion
8: Glazer Family (Manchester United, Tampa Bay Buccaneers) – $7.53 billion
9: Paul G. Allen Trust (Seattle Seahawks, Portland Trail Blazers) – $7.41 billion
10: Maple Leaf Sports & Entertainment (Toronto Raptors, Toronto Maple Leafs, Toronto FC) – $6.42 billion