That Formula 1 has risen in value in recent years is undeniable, but what has happened with Red Bull defies all logic. According to the British newspaper The Times, Red Bull has rejected a $3 billion offer for its subsidiary team. Not from Red Bull itself, but for Racing Bulls, its satellite structure.
Less than a decade has passed since Liberty Media officially announced the purchase of Formula 1. In 2017, the American consortium acquired the entire championship for eight billion dollars. A decade later, what could be considered the least valuable of the eleven teams is worth at least half of that.
Red Bull has rejected a $3 billion offer for Racing Bulls
Red Bull has rejected a $3 billion offer for Racing Bulls, its Formula 1 satellite team. It is the news reported by the prestigious British outlet The Times, and it has left insiders and outsiders alike stunned. It reads like an open book about how Formula 1 has increased in value in recent years.
For many reasons, one could think that Racing Bulls is the least valuable team among the eleven in current Formula 1. It is not only because it is a satellite structure, but above all due to its location in Italy, which keeps it far from the British-centric focus where things happen in Formula 1. However, Racing Bulls is worth more than $3,000 million.
A striking figure when you consider a small detail: just nine years ago, in 2017, Liberty Media formalized the purchase of all of Formula 1 from Bernie Ecclestone. At that time, the American company paid eight billion dollars for the whole Formula 1. Today, the worst team in the world is worth more than $3 billion.
According to The Times, Red Bull has not accepted the offer precisely because it believes Racing Bulls costs more than that money. For now what is known is that the proposal came from American investor Andrew Herriot, and that the funds came from Abu Dhabi. So it does not seem to be the touted BYD operation to enter Formula 1, but something else.
Racing Bulls is also the most scrutinized team in Formula 1 for one obvious reason: it is the only team that does not fight for its own interests, but for those of another team, Red Bull. A problem of multi-ownership that sits uneasily with both Formula 1 and its rivals, but so far no one dares to resolve it.
To wrap up the data, a year ago Liberty Media formalized the purchase of MotoGP for $4.2 billion. Almost the same as the cost of the worst team in Formula 1, given what we’ve seen.
Images | Racing Bulls
