FIA President Mohammed bin Sulayem (left, here with FIFA boss Infantino) has fallen out with Formula 1 rights holder Liberty Media. Image: IMAGO/Mandoga Media
formula 1
Formula 1 is a million dollar business. Eight months a year, the teams jet around the world and hold races on almost every continent. In the coming season, Formula 1 will host 23 Grand Prix for the first time – there have never been so many.
Although all of this consumes a lot of money, the racing series is extremely lucrative. The US media company Bloomberg Liberty Media, which holds the commercial rights to Formula 1, published its business figures for 2022 last November and did so reported sales of $715 million.
Formula 1 is currently experiencing a real boom.Image: dpa / Hasan Bratic
Where so much money is involved, power struggles are almost inevitable. Behind the scenes also exist in Formula 1 For years there has been a dispute over competence between the rights holder Liberty Media and the world motorsport association FIA. The conflict-ridden history of the two parties has recently added a new chapter – which, as has now become known, could possibly end up in court.
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From Liberty Media’s point of view, FIA President Mohammed Ben Sulayem has caused economic damage to Formula 1. On Monday, he commented extensively on Twitter about the rumor that the Saudi sovereign wealth fund wanted to buy Formula 1 for $20 billion.
Tweets from the FIA President have consequences
In his statement, he urged the Saudis to use common sense before making a purchase and come up with a clear, sustainable plan – not just a lot of money. He also described the supposed price tag of 20 billion dollars as “excessive”.
With this unsolicited interference Ben Sulayem has gone too far, believes Liberty Media. The US company has had its lawyers draft a letter to the FIA, reports “sports1“. Accordingly, it says:
“The FIA has given an unequivocal commitment that it will not take any action that may affect the ownership, management and/or enjoyment of the commercial rights. We believe that these comments, which were made via the FIA’s official social media account, Presidents are interfering with those rights in an unacceptable way.”
One also reserves that the FIA ”can be held liable” for any damage to the value of Liberty.
“Sport1” claims to know that Liberty Media is interested in selling Formula 1 to the Saudis and therefore hope to achieve the highest possible profit. That’s why they should now take action against Ben Sulayem, who threatens to ruin the deal for them.
Allegedly, Liberty wants to saw off Ben Sulayem
The sports news outlet also speculates that the FIA President – who has recently been remarkably positive about racing conditions in Saudi Arabia – may be on a mission to drive down the price for prospective Saudi buyers.
Allegedly, Liberty is therefore already sawing Ben Sulayem’s chair internally and is striving to establish the British David Richards as his successor at the FIA. Richards was team principal at Benetton and BAR.
It came with a bang when FC Bayern announced the separation from goalkeeping coach Toni Tapalović late on Monday evening. The trainer, whom Manuel Neuer brought to Munich from Schalke in 2011 and who encouraged the 36-year-old to do his best, suddenly has to go.