F1 owner is world’s richest sports empire

The company that controls Formula 1’s commercial rights is the most valuable sports empire on earth.

That is the finding of the renowned business magazine Forbes, who despite a year-on-year value drop of 12 percent for Liberty Media nonetheless list F1’s American owners at being worth a staggering $18 billion.

Alongside many other media and entertainment assets, Liberty also controls SiriusXM, Live Nation, and the major league baseball team Atlanta Braves.

It all makes Liberty Media worth $3 billion more than Kroenke Sports’ array of sports teams, including Arsenal FC, and $5bn more than Fenway Sports Group - similar to Kroenke with assets including Liverpool FC.