F1’s parent company Liberty Media group denied the media speculations that the F1 is up for sale following a rumoured US$20 billion bid from Saudi Arabia’s Public Investment Fund (PIF).
Greg Maffei, Chief Executive officer of the company release a media a statemet to address the matter.
Water was already poured on reports by the Saudi Arabian sports minister, who called the rumours “purely speculation”, but Maffei has doubled down at Moffett Nathanson’s inaugural Technology, Media and Telecom conference.
“Is there any chance we’re going to sell this thing and incur corporate tax? That should stop any discussion that anyone says that our friends, the Saudis, are going to buy it next week or something like that? If anybody knows us, they should know that’s just not in our cards,” said Maffei.