Forbes has listed Formula 1 owner 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 puts it firmly at the top of the list, with Forbes listing the current market value of F1 at $17.1 billion. .
Liberty Media took on Formula 1 in 2017 and its value has risen dramatically during that time, with the success of the Netflix docuseries Drive to survive be credited as a big reason behind a growing audience in the United States and beyond.
With an announced bid of $20 billion for the sport from Saudi Arabia’s Public Investment Fund, that’s a 15% increase on the Forbes valuation of Formula 1.
In his announcement of their ranking, Forbes wrote: “Formula 1 had a 2022 banner, with an average of 1.21 million viewers on the ESPN family of networks, the highest ever for the series, and signed a new TV deal in June worth at least $75 million a year, 15 times its previous deal.
“No wonder Saudi Arabia’s Sovereign Wealth Fund considered acquiring Formula 1 for $20 billion last year, according to Bloomberg.”
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Top 10 most valuable sports empires according to Forbes 2023
(Selected owned companies appear in brackets)
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
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