F1 tops Forbes’ wealth list before the owners of Liverpool and Arsenal…….
According to global business and finance magazine Forbes, the most valuable sports empire is once again Formula 1’s commercial rights owner, Liberty Media. Liberty, under the direction of chairman and longest-voting shareholder John Malone, has topped the list for three years running.
Formula 1 had a sharp rise in quarterly earnings in 2021, with a third-quarter revenue of $887 million (£698 million). This remarkable amount represents a 24 percent increase from the prior year. The Las Vegas Grand Prix, which drew over 300,000 spectators over the course of four nights and increased the city’s economy by an estimated $1.2 billion (£940 million), was a major factor in this achievement.
Liberty Media, though, is not limited to the motorsports industry. Additionally, the business owns 7% of the Kroenke Arena Company, which hosts live entertainment and sporting events in Denver, Colorado. Among these is Ball Arena, which is the home of the Colorado Avalanche, Denver Nuggets, and Colorado Mammoth of the National Lacrosse League.
At $30.68 (£24.14), shares of Liberty Media Corp are currently being sold, up more than 6% year to date. Here’s a summary of their best qualities, which also happens to be their ranking.
Holding the bulk of the publicly traded corporation is Berkshire Hathaway, which holds a 23 percent
The sports empire behind Arsenal, Kroenke Sports & Entertainment, came in second place among sports empires on the list, trailing only Liberty Media. Jerry Jones, the owner of the Dallas Cowboys, was the only person to make the list.
Despite being in first place, Liberty Media’s valuation fell by $2.6 billion (£2.05 billion) when they lost their majority ownership of the Major League Baseball team, the Atlanta Braves. From 2008 until 2021, they were the team’s owners, and during that time, the clubhouse had a.519 winning percentage.
The complete list of the biggest sports empires for 2024 is as follows:
