Formula One’s parent company Liberty Media has been ranked by Forbes as the world’s most valuable ‘sports empire’ for 2023, with the group that also owns the Atlanta Braves and SiriusXM valued at US$20.8 billion.
Confirmed:
- Kroenke Sports & Entertainment – which owns Premier League club Arsenal, the National Football League’s (NFL) Los Angeles Rams, the National Basketball Association’s (NBA) Denver Nuggets and the National Hockey League’s (NHL) Colorado Avalanche – was pegged at $12.75 billion
- Jerry Jones placed third, with his empire built around the Dallas Cowboys valued at US$11.32 billion
- Fenway Sports Group (FSG) and Madison Square Garden (MSG) Sports complete the top five, with respective valuations of US$10.4 billion and US$9.17 billion
- At US$5.96 billion, City Football Group (CFG) was the highest-ranked non-American sports conglomerate on the list
- The Glazer family, which owns English soccer giants Manchester United and the NFL’s Tampa Bay Buccaneers, are listed at the eighth, with their sports properties valued at US$7.53 billion
- Collectively, the value of the top 25 sports groups increased by 23 per cent from 2022 to reach US$173 billion in total
Context:
The Forbes valuation of Formula One at US$17.1 billion is timely amid the global motorsport circuit’s spat with International Automobile Federation (FIA) after it emerged that Saudi Arabia’s Public Invesment Fund (PIF) had explored acquiring the series in a deal worth more than US$20 billion. Liberty Media rebuffed that approach but will be chuffed that its marquee property is seen to be increasing in value.
Coming next:
The announcement that Liberty is spinning off the Braves last year, means the group is well positioned to sell the Major League Baseball (MLB) franchise once that listing is complete. Forbes valued the 2021 World Series champions at US$2.1 billion.
A number of the sports ownership groups on this list are aiming to sell properties in the coming year. FSG putting Liverpool on the market in November, and the Glazer family are also looking to sell United.
