FWONA - Saudi Wealth Fund considered bid for Formula 1 racing for more than $20B - report

• Saudi Arabia's sovereign wealth fund evaluated acquiring Formula 1 from its owner Liberty Media ( NASDAQ: FWONA ) to add to its sports portfolio last year. Liberty Media rose 3.5% in premarket trading.
• Liberty Media ( FWONA ) ended those Saudi ambitions last year as it wasn't interested in selling, according a Bloomberg report, which cited people familiar. Saudi Arabia's Public Investment Fund valued F1 at well above $20 billion, including debt.
• The PIF remains interested in F1 and would be a serious bidder if Liberty Media ( FWONA ) were to change its mind, according to the report.
• Liberty Media ( FWONA ) agreed to buy Formula 1 from a selling consortium including CVC for $4.4 billion in 2016.
• Also see SA contributor Tudor Invest Holdings' piece from last month entitled "Formula One Group: Earnings Growth, But No Clear Path To Shareholder Remuneration."

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