F1 News: “They Destroyed F1”: Liberty Media’s $18.22 BN Conquering of Sports World Faces Harsh Treatment From Fans

Formula 1 has completely transformed since 2017, ever since Liberty Media‘s takeover of the sport. The American mass media company purchased F1 for 4.4 billion and has made it one of the most lucrative and attractive sports in the world. This would be a general perception. However, the fans tell a different story. This alternate narrative around F1 and Liberty Media’s involvement with F1 was highlighted after Forbes crowned the American company the world’s most valuable sports empire, again.

Forbes’ crowing of Liberty Media meant the American company maintained its top spot and hold in the world of sports again in 2024. Forbes estimated the media giants are valued at a staggering $18.22 billion. Liberty Media, along with F1, owns other ventures like Overtime Sports, F1 Arcade, Drone Racing League, Kroenke Arena, and Meyer Shank Racing, which add to their massive value.

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However, despite maintaining the top spot, the company’s value has decreased in the last 12 months from 20.8 billion. Forbes detailed the reason: “The aggregate value of Liberty’s ownership stakes in its sports assets fell 12%, to $18.2 billion but it still maintains the top spot on our list. Liberty, declined in value this year because it spun off the Atlanta Braves (current enterprise value: $2.6 billion) last July.” 

Read More: Liberty Media’s American Dream Takes Incredible $5 Billion Turn, Introducing a New Generation of 73 Million F1 Fans to Lewis Hamilton & Co.

However, the valuation does not translate to success. Sure, F1, among other sports Liberty Media owns, is making money for the media giants, but it’s coming at a cost.

Fans rip Liberty Media to shreds after the recent Forbes crowning

After the Forbes announcement, the fans could not help but point out how disappointed they were with the news. The source of the disappointment was the state of the sport. Fans believe F1 has lost its core values and become a mess in recent years. The majority of the blame was levied on Liberty Media, with the FIA sharing some of it as well, and its greed for money resulting in making F1 a circus.

Let’s look at some of the comments:

“Yep, but the biggest sports downgrade in the history btw”

“Who gives a crap when the sport we love (f1) is being Ruined by them and the fia that’s just my opinion!!!!!!”

“And that’s all they care about. Money. They couldn’t give a toss about F1.”

“They have destroyed f1..”

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In fact, this has made some of the fans even want the old and controversial boss back.

“Yeah and they are ruining @f1 Bring back Bernie!!”

“Hate him all you want but Bernie was right, it is better to gatekeep.”

However, the theme of the comments stayed intact throughout.

“Whilst doing everything in their power to actively destroy it”

“But they killed the sport for love of cash 😮”

It should be a concerning opinion and outlook toward the sport and for the owners. Although as the sport keeps making more money and keeps generating more interest from investors, we doubt this will ever become a concern for the owners and that is the sad reality!