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.
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.
