F1 faces potential threat from billionaire plotting massive takeover

Tech billionaire Jan Henric Buettner and five-time world chess champion Magnus Carlsen have created a new Freestyle Chess league which they believe could rival Formula 1.

F1 was taken over by Liberty Media in 2017, a move that has changed the sport by introducing a whole new audience through Netflix series Drive to Survive.

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Off the back of its success, F1 audiences have swelled and culminated in a celebration of the sport’s 75th anniversary with a live livery unveiling at the O2 arena in London.

Following the growth of F1, other sports will be hoping to achieve the same kind of popularity with even chess trying to replicate its growth.

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Billionaires fund new chess league to rival F1

Buettner and Carlsen raised $15million to create the Freestyle Chess league, which will feature the top 25 players across the world and take place in five different destinations.

The German entrepreneur, Buettner, however believes that it compares to F1 with its tour based, worldwide experience and is hoping to simulate an experience like the Paddock Club.

“If the F1 [Paddock Club] is for millionaires, Freestyle Chess’ [Grand Slam events] are for billionaires,” Buettner said.

The Freestyle Chess Grand Slam of Germany took place earlier in February, and will continue in Paris in April.

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