F1 owners' value drops $2 BILLION in 2024

Liberty Media have retained their title as the most valuable sports empire in the world, despite taking a hit in their dollar valuation.

According to Forbes, the mass media group running Formula 1 are valued at around $18bn, putting them ahead of Kroenke Sports and Fenway Sports Group (owners of the LA Rams and Boston Red Sox respectively.

Despite this, the group have actually seen a $2bn hit in their worth compared to the same list from last year, which also had them top of the pile.

While this hit is not set to impact F1 too much in the short term, it does potentially suggest trouble on the horizon for Formula One Management (FOM), who are headed by former Ferrari team principal Stefano Domenicali.

Formula 1's street circuit gamble

With the upcoming 2024 F1 season set to be the longest yet - 24 races taking place across 21 different countries - there's no doubt that the future of F1 as an asset is pretty secure.

Recent contracts signed with both the Las Vegas Grand Prix and a new Madrid street circuit suggests that it is a sport that is attracting lots of worldwide attention.

"The aggregate value of Liberty’s ownership stakes in its sports assets fell 12%, to $18.2 billion but it still maintains the top spot on our list," Forbes revealed.

"Liberty declined in value this year because it spun off the Atlanta Braves (current enterprise value: $2.6 billion) last July."

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