Forbes names Liberty Media, Formula 1's commercial rights holder, as the most valuable sports empire of 2023. The company would now be worth some $20.8 billion.

Every year, US magazine Forbes announces the 25 most valuable sports empires in the world. In total, the 25 companies are said to be worth some $173 billion, up some 23 percent from last year. Formula 1 has risen in popularity in recent years, partly due to the highly watched Netflix series Drive to Survive. This is now also reflected in its value, Forbes reveals in its latest list.

Value

Given the global interest in Formula 1 and the calendar that keeps on growing, it is perhaps not surprising that the sport has now become Liberty Media's most valuable asset. It was rumoured recently that Saudi Arabia had clear plans to take over the sport from the US company in 2022. They had reportedly set apart 20 billion for this purpose. Forbes currently estimates Formula 1's actual value at around $17.1 billion.

In addition to its shares in Formula 1, Liberty Media also has minority stakes in its other organisations, such as Meyer Shank Racing's IndyCar team. As a result, the total value of the company is estimated at around $20.8 billion, and that calculation includes the increased price of Formula 1 shares. Compared to last year, those are up five percent in value.