Liberty Media, owner of Formula 1, has topped Forbes list of the world's most valuable sports empires. Valued at $18.22 billion, Liberty Media also owns all or significant parts of Overtime Sports, F1 Arcade, Drone Racing League, Kroenke Arena Co. and Meyer Shank Racing.
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However, despite topping the list, Liberty Media experienced a decrease in overall value, losing 12 percent from $20.8 billion in 2023. Forbes noted that the asset decline probably comes from its spin-off of the Atlanta Braves, which was valued at $2.6 billion.
Even with its 12 percent asset valuation decrease, Liberty Media still outpaced other prestigious rivals such as Kroenke Sports and Entertainment ($15.59 billion), owners of Arsenal FC and the LA Rams, and Fenway Sports Group ($12.95 billion), which holds Liverpool Football Club and the Boston Red Sox.
Interestingly, Stephen Ross ($6.9 billion), owner of the Miami Dolphins and mastermind of the Miami Grand Prix, sits at number 16 on the list.
Formula 1 was purchased by Liberty Media in 2017 for $301 million. Since its purchase, Formula 1 has seen record-breaking in-person attendance and television audiences. As an American company, Liberty Media has also greatly expanded F1's presence in the States. There are now Formula 1 races in Austin, Miami and Las Vegas, and there are rumblings that Chicago could be next after news broke just this week that Formula 1 had registered several trademarks for a potential race in the Windy City.
There has been speculation that Elon Musk and Jeff Bezos are interested in investing in F1 though insiders have claimed that a Liberty Media buyout is unlikely. A $29.5 billion bid from Saudi Arabia was reported, and subsequently denied, at the start of 2023.
Liberty Media also holds a 35 percent stake in Live Nation Entertainment, and a 76 percent stake in Sirius XM.
