Liberty Media chairman John Malone has admitted that Formula 1 could be sold if the right offer landed on the table, stressing that shareholder value would always dictate the company’s decisions.
“It's a public company,” he said, speaking on the Opening Bid Unfiltered podcast. “If somebody gets carried away and they want to buy it and they're willing to pay more for it than the board thinks that they can deliver to the shareholders, then we would sell it.”
The statement underlines Liberty’s stance that while it has overseen unprecedented growth for F1 since acquiring the series in 2017 for $8 billion, the championship is not off-limits should a buyer meet the right valuation.
Rumours of Saudi Arabia’s Public Investment Fund tabling a $20 billion takeover in 2023 highlighted the scale of F1’s rising worth, though no bid was officially confirmed.
What is certain is the stock market story: Liberty’s NASDAQ-listed FWONK shares have climbed from around $30 at the time of acquisition to nearly $100 today.
“I think the shareholders seem to love it right at the moment,” Malone noted. “It's really performing well. It has exceptionally good economic structure.
“It will be a very large free cashflow generator, which underwrites its high valuation. And there, perhaps, will be incremental synergistic add-ons. It still has a big brand to drive.”
New Era of Leadership
Liberty’s leadership transition has also shaped the company’s recent momentum. Following Greg Maffei’s departure as CEO in December 2024, Malone temporarily stepped in before appointing Derek Chang as chief executive in February.
“With the original Liberty Media, I had my dream team,” Malone said. “And now, I think with Chase Carey on board, Bob Bennett back from the original dream team and Derek playing the CEO role, I think this is a terrific executive team. And I just really enjoy watching them do their stuff.”
Liberty Media President and CEO, Derek Chang, at Silverstone last July with Robert R. Bennett, Vice Chairman of the Board of Directors of Liberty Media; and Chase Carey, Liberty Media Board Member.
That structure also supports Liberty’s ongoing expansion in motorsport. Alongside Formula 1, the company now controls MotoGP after completing its acquisition earlier this year, positioning itself as a powerhouse across two- and four-wheel racing.
Commercial Boom and Streaming Future
On track and off it, F1 has rarely looked stronger. Under CEO Stefano Domenicali, the series has locked in long-term deals with a multitude of circuits such as Miami, Spielberg, Albert Park and Bahrain, while securing partnerships with global giants including Aramco, AWS, and Crypto.com to name a few.
Looking ahead, the expiration of Formula 1’s U.S. broadcasting deal with ESPN in 2025 could open doors for tech giants like Apple, which collaborated with F1 on the Brad Pitt-led film F1 The Movie. Malone sees a broader shift in media.
“I think social networking eventually also becomes streaming entertainment,” he said.
“I think you're seeing the beginnings of that with Google's YouTube, where effectively they have the combination of subscription entertainment – they've been experimenting with driving penetration with sports, [like] out of market NFL – but they have a massive user base of user generated [content].
“That constitutes a massive funnel for them to drive whatever they want to drive. And of course, advertising has become a very big game for the big tech guys.”
A Championship at Peak Value
F1’s commercial health continues to soar. In the first half of 2025, Formula One Group reported $1.6 billion in revenue and $442 million in OIBDA (Operating Income Before Depreciation and Amortization), up from $367 million during the same period in 2024.
For now, Liberty Media is enjoying the benefits of ownership. But Malone has made clear that if the right bidder arrives, Formula 1 could one day change hands again.
Read also: Formula 1 smashes $1 billion mark in Q2 2025 revenue surge
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