"Apply common sense" - FIA president cautions against F1's inflated price tag of $20 billion

FIA's president, Mohammed Ben Sulayem, responded to reports of the Saudi Arabian Prince trying to gain control over F1 and Liberty Media after offering a whopping $20 billion price.

Sulayem labeled the price as 'inflated' in his tweet and warned that 'any potential buyer' should apply enough common sense before making such a move. He referred to the FIA as 'custodians of motorsport.'

He stated that someone who is interested in such a deal must come up with a clear and sustainable plan for the sport and bringing in a lot of money is not the right thing to do.

"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. 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."

A report emerged over the past week from Bloomberg claiming that the Saudi Arabian Public Investment Fund, also called the PIF, had lodged a $20 billion bid to take over Liberty Media and the rights of F1. PIF works under the chairmanship of Saudi Crown Prince Mohammed bin Salman.

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How would an inflated price for F1 rights affect the sport?

In his tweet, Mohammed Ben Sulayem explained that inflation within the sport and its price itself can turn out to be disastrous.

He stated that it can affect the promoters in the sport, hosting fees, and many other commercial costs that the sport is obliged to. This, in turn, will affect the prices that fans pay to witness races all around the world, and it can lead to a loss of fanbase. Ben Sulayem tweeted:

"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."

Ever since Liberty Media bought rights to F1 in 2017 (after a $4.6 billion deal), there have been outrageous ways in which the sport has expanded. With the entry of Netflix's Drive to Survive, there has been a huge surge of fans in F1. Along with that, races in newer arenas and promotional activities have certainly valued the sport up, but not to $20 billion, as the FIA president revealed.