How Liberty Media became one of the world’s most valuable sports empires

Charles Leclerc of Monaco was spotted driving the Ferrari SF-23 during practice ahead of the F1 Grand Prix in Las Vegas in 2023. When Liberty Media Chairman John Malone acquired Formula One for $4.4 billion in 2017, he saw an opportunity to take the sport to another level, particularly in the digital market. The Covid-19 pandemic in 2020 led to a surge in online sports fans, allowing Liberty Media to realize Malone’s vision. They focused on stabilizing the sport’s finances, introducing a cost cap and creating a more equitable distribution of funds. This led to more exciting storylines and increased interest in the sport, particularly through platforms like Netflix and the official F1 video game. Liberty also invested heavily in expanding F1’s presence in the U.S. market, with successful results in terms of increased sponsorship deals and overall growth in value. However, challenges lie ahead, including disputes over grid entries and sustainability concerns. Despite this, F1 remains a valuable and dynamic sport, with new race rules set to come into effect in 2026.