FIA president calls for ‘caution’ over colossal Saudi F1 bid

Saudi Arabia recently saw a $20bn bid to purchase Formula 1 from Liberty Media rejected.

The value of Formula 1 continues to increase year after year, as the sport continues to grow and spread all over the world.

Since Liberty Media purchased Formula 1 in 2017 for £6.4bn, Netflix’s ‘Drive to Survive’ has seen the audience for the sport grow in regions such as the USA, who previously preferred IndyCar and NASCAR.

The Middle East has also become much more involved in F1 in recent years, with the 2023 calendar featuring races in Bahrain, Saudi Arabia, Qatar and Abu Dhabi.

The F1 project in Saudi Arabia is an exciting one, with the Kingdom looking to draw teams over to set up their headquarters in the Middle East.

READ: FIA president says new F1 team will be announced ‘as early as next week’

Saudi Arabia have also recently seen an eye-watering $20bn bid to purchase F1 from Liberty Media rejected, prompting FIA president Mohammed Ben Sulayem to controversial comment on the value of Formula 1.

“As the custodians of motorsport, the FIA, as a non-profit organisation, is cautious about alleged inflated price tags of $20bn being put on F1,” he posted on Twitter.

“Any potential buyer is advised to apply common sense, consider the greater good of the sport and come with a clear, sustainable plan – not just a lot of money.

“It is our duty to consider what the future impact will be for promoters in terms of increased hosting fees and other commercial costs, and any adverse impact that it could have on fans.”

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It has been suggested than Ben Sulayem has exceeded his role as regulator by sharing his personal views on social media.

Some fans have suggested that it is unacceptable that the F1 president has shared his personal views on a commercial matter, despite holding such a senior role in the sport.

READ: Mercedes make admission about porpoising ahead of new FIA directive

Ben Sulayem has come under fire for his posts on Twitter more than once in recent weeks, having also shared his views on the Andretti-Cadillac rumours.

Despite F1 rejecting claims that the current grid will be expanded, the FIA president has taken to social media to suggest that fans should be excited about the potential addition of such a huge car brand to the sport.

Formula One have currently decline to comment on Mohammed Ben Sulayem’s most recent comments about the value of F1.