JUST IN: Saudi Arabia Billionaires Arrive at Ferrari With $90 Billion Bid Rumors as Prince Khalid Hints at Formula 1 Team Purchase
Speculation surrounding the future ownership of Formula 1 teams has intensified after fresh comments from Saudi Arabian officials suggested that the kingdom could soon enter the sport as a team owner. Rumors have recently emerged claiming that Saudi billionaires have arrived at Ferrari with an astonishing $90 billion proposal, although there has been no official confirmation from Ferrari or Saudi authorities regarding any potential deal.
The latest wave of speculation comes after Prince Khalid bin Sultan Al-Abdullah Al-Faisal, chairman of Saudi Arabia’s automobile and motorcycle federation, openly admitted that buying a Formula 1 team is a possibility in the near future.
Speaking to reporters ahead of the Saudi Arabian Grand Prix in Jeddah, Prince Khalid acknowledged the kingdom’s growing interest in Formula 1 and refused to rule out a future acquisition.
“It could happen, it could happen soon if you see the growth of the sport,” Prince Khalid said during a virtual media session.
His comments have immediately sparked discussions throughout the Formula 1 paddock, with fans and analysts wondering whether Saudi Arabia’s Public Investment Fund (PIF) could eventually target one of the sport’s biggest names.
Saudi Arabia’s Growing Influence in Formula 1
Over the last few years, Saudi Arabia has significantly increased its investment in international sports. Formula 1 has become one of the kingdom’s biggest sporting interests, with the nation hosting the Saudi Arabian Grand Prix since 2021.
In addition to organizing one of the most glamorous races on the calendar, Saudi companies have established major sponsorship deals with several teams and sporting organizations.
Prince Khalid highlighted Formula 1’s rapid expansion as one of the main reasons Saudi investors are increasingly attracted to the championship.
“If you are going to buy a Formula 1 team, then people will buy it to make money out of it, especially if it’s going to be bought by one of the PIF companies,” he explained.
“We see Formula 1 reaching new markets, and sales are globally increasing.”
Formula 1’s popularity has exploded in recent years, particularly in North America and the Middle East. Television audiences continue to grow, while sponsorship revenues and franchise values have reached record levels.
Several teams that were once valued at less than $500 million are now reportedly worth multiple billions of dollars.
Could Ferrari Really Be Sold?
Despite the sensational rumors linking Saudi billionaires with Ferrari, there is currently no indication that the Italian manufacturer is interested in selling its Formula 1 operation.
Ferrari remains one of the most iconic brands in motorsport history and is deeply connected to Italy’s automotive identity. The team has competed in every Formula 1 season since the championship began in 1950 and is considered the sport’s most successful constructor.
Industry experts believe that any acquisition of Ferrari would face enormous financial, political, and corporate challenges.
Even so, Saudi Arabia’s enormous financial resources have fueled speculation. The Public Investment Fund manages assets worth hundreds of billions of dollars and has already invested heavily in football, golf, boxing, and motorsport.
Saudi-backed companies have transformed entire sports landscapes in recent years, leading many observers to believe that Formula 1 ownership may simply be the next logical step.
A Saudi-Owned Formula 1 Team Could Become Reality
While Ferrari may not necessarily be the target, Prince Khalid made it clear that Saudi Arabia’s interest in owning a Formula 1 team is genuine.
“It’s not easy to say which team to buy and how you’re going to manage it,” he said.
“But we have a lot of interest. We’re hosting Formula One, sponsoring teams, so I wouldn’t be surprised if we see an announcement for a Saudi team.”
Those comments have intensified speculation about potential investments in smaller teams that could be available in the coming years.
Formula 1’s current grid includes manufacturers and private teams with varying financial situations, making future acquisitions possible if the right offer arrives.
For now, Ferrari has remained silent regarding the latest reports, while Saudi Arabia continues to strengthen its presence in global motorsport.
Whether the rumors surrounding a $90 billion bid are true or simply another chapter in Formula 1’s endless speculation, one thing is certain: Saudi Arabia’s ambition within the sport is growing rapidly, and the possibility of a Saudi-owned Formula 1 team no longer seems impossible.
As Formula 1 continues to expand into new markets and generate record revenues, the battle for ownership and influence in the world’s premier motorsport championship may only be beginning.
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