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Marko warns of crucial Formula 1 decision after billion-dollar bid

Marko warns of crucial Formula 1 decision after billion-dollar bid

30-01-2023 15:23 Last update: 18:53
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GPblog.com

Helmut Marko does not like the idea of Formula 1 falling into the hands of Saudi Arabia, he said in an interview with RTL Deutschland. According to the Austrian, the sport shouldn't change hands to a country where it "is culturally different from where most of the races take place".

Earlier this month, news emerged that Public Investment Fund (PIF) would have tried to take over Formula 1 from Liberty Media. Although the bid was eventually turned down, this does not rule out the possibility of it succeeding in the future.

The investment fund, owned by the Saudi government, is said to be willing to put $20 billion on the table. After the turned down bid, it would even like to come back with a higher amount of money and thus make a second attempt.

Marko critical of situation

Marko thinks it is good to see that the value of the sport has increased recently, but at the same time argues that Formula 1 must remain critical. "I don't think it would be so good if it went to a country that is culturally different from where most of the races take place," Marko analysed the situation.

The Red Bull Racing adviser fears that Saudi Arabia's values are too different from the West. "In general, it is a commercial business. The rights should rather go to someone who recognises the ideas of corporate law."