Is Formula One up for sale after reports of $20 billion bid?
A $20 billion offer was made by Saudi Arabia’s investment fund last year to purchase F1 from its current owners, Liberty Media, according to Bloomberg.
That led FIA president Mohammed Ben Sulayem to query the huge price-tag - lawyers on behalf of F1 wrote him a letter to accuse him of commenting on issues outside of his remit.
Asked if F1 was up for sale, Domenicali told Sky: “I should ask my shareholder, but I don’t think so.
“We are investing in F1. You saw what real money we have put into Las Vegas, land for $240m. We will invest half a billion there.”
F1 purchased land in Vegas and will spend a total of $500m on the site of the new grand prix, a new business strategy which deviates from working alongside local promoters.
“We are happy,” Domenicali said. “It is the jewel of the portfolio. They are comfortable in what we are doing.
“We are delivering a good job.”
James was a sports journalist at Sky Sports for a decade covering everything from American sports, to football, to F1.
