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Monday, February 26, 2024

F1 proprietor Liberty Media tops checklist of world’s Most worthy “sports activities empires”

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Liberty has beforehand topped the Forbes Prime 25 checklist, which consists primarily of people and entities that personal a number of main US sports activities franchises, though some additionally personal high European soccer groups.

The worth of Liberty’s sports activities properties has shrunk because it spun off its baseball subsidiary, MLB crew the Atlanta Braves, in July final 12 months.

Regardless of that transfer lopping some 12% off the worth of the corporate’s possession of sports activities property, it stays high of the checklist at $18.22 billion.

Liberty outranked Kroene Sports activities and Leisure, proprietor of the Los Angeles Rams, Denver Nuggets and Arsenal FC amongst different properties, because it elevated its worth by 22% to $15.59 billion.

Third place went to Fenway Sports activities Group, proprietor of baseball crew the Boston Purple Sox, NHL franchise the Pittsburgh Penguins and Liverpool FC. The group’s worth additionally rose by a major 25% to $12.95 billion.

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Fenway now has a small connection to F1 as one of many minor shareholders in sports activities funding agency Arctos Companions, which acquired a stake within the Aston Martin crew late final 12 months.

A person within the checklist with a extra direct involvement in F1 is Stephen Ross, who owns the Miami Dolphins and is the promoter of the Miami GP that runs round his Laborious Rock stadium. 

Ross has now damaged into the Forbes Prime 25 in sixteenth spot, proudly owning sports activities property with a price of $6.91 billion.

The one different F1 connection within the high 20 checklist is the Bamford household, proprietor of Aston Martin sponsor JCB, in seventeenth place.

Ecclestone turns into UK’s second-highest tax payer

Picture by: Simon Galloway / Motorsport Images

Bernie Ecclestone on the grid

In the meantime, former F1 boss Bernie Ecclestone narrowly missed topping the checklist of the UK’s high taxpayers of 2023, rating in second place after shedding a authorized case final 12 months obliged him to make a giant fee to the UK tax authorities.

Ecclestone was named in second place within the Sunday Instances‘ UK taxpayer checklist after a courtroom case involving unpaid tax regarding £400m funds held in a belief in Singapore, and which dated again to 2015.

He paid a complete of £652.6 million in tax and penalties to HMRC, the UK tax authority, which put him behind solely Russian-born monetary dealer Alex Gerko, who topped the checklist on £664.5m.

Record compiler Robert Watts famous: “Bernie Ecclestone, having contributed £652.6m this 12 months, was a one-off win for the general public funds. With out that fee, the whole tackle this 12 months’s taxes would have been down on final 12 months.”

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