this post was submitted on 27 Oct 2023
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Formula 1

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PIF, Saudi Arabiaโ€™s $700-Billion sovereign wealth fund, will hold a 75% stake in the new JV, with Pirelli holding the remaining 25% and providing the technical and commercial support for the development of the project, the two groups said.

Reports back in January claimed that the PIF was targeting to buy Formula 1 from commercial rights holders Liberty Media and planning to pay up to $20-Billion.

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[โ€“] [email protected] 14 points 2 years ago (1 children)

If they'd actually buy F1 that would probably be the end of F1 as we know it.

[โ€“] [email protected] 3 points 2 years ago

I hope Formula 1 dies if that happens. I'll just skip motorsport for a while.

[โ€“] [email protected] 12 points 2 years ago

Yuck. Iโ€™m sure theyโ€™ll be happy to use all that slave labor.