Formula 1 could be taken private within the next two years in a potential $30 billion deal, according to former Liberty Media president and CEO Greg Maffei. The American executive believes the championship could disappear from the stock market as its owners consider the next stage of F1’s commercial development following years of substantial growth.
Speaking at the Sportico Invest New York 2026 Conference, Greg Maffei was asked whether Formula 1 shares would still be publicly traded in two years. His response was unequivocal: “I would say F1 won’t be there anymore.”
Greg Maffei went further, suggesting that a sale could become the most likely outcome as investors and Liberty Media’s board assess the championship’s value. “If I had to put money on it, that’s where I’d put it. The public markets decide, and a board of directors with a fiduciary duty makes decisions about Formula 1, which is why I’d say that, on balance, it will probably be sold.”
How Liberty Media transformed Formula 1 into a $28 billion business
Since Liberty Media acquired control of Formula 1 from CVC Capital Partners in 2017, the championship has undergone a remarkable commercial transformation. Formula 1’s share price has increased by 250%, while its market capitalisation is now approaching $28 billion.
Several factors have contributed to this growth, particularly Formula 1’s increasing popularity in the United States. A more effective media strategy, the success of Netflix’s Drive to Survive documentary series, an expanded race calendar and stronger commercial partnerships have all helped increase the championship’s global appeal and financial value.
Liberty Media has also acquired MotoGP, bringing the motorcycle racing championship into the same publicly traded business associated with Formula 1. This has further expanded the group’s portfolio of major international motorsport properties.
Greg Maffei believes Formula 1’s easiest growth phase is over
Greg Maffei, who stepped down from his senior leadership positions at the end of 2024, believes Formula 1 has already experienced its most straightforward period of value creation. Although the championship remains a highly valuable commercial property, repeating the extraordinary growth achieved under Liberty Media could prove increasingly difficult.
“The easy money has already been made. EBITDA has tripled in eight or nine years. It won’t triple again over the next eight or nine years,” Greg Maffei explained.
EBITDA, which measures earnings before interest, taxes, depreciation and amortisation, is a widely used indicator of operating profitability. The substantial increase highlighted by Greg Maffei reflects how significantly Formula 1’s commercial performance has improved since Liberty Media took control.
However, the prospect of slower future growth could influence how existing shareholders and potential buyers assess the business, particularly if a transaction values Formula 1 at approximately $30 billion.
Who could buy Formula 1 from Liberty Media?
Among the potential buyers are sovereign wealth funds and consortiums of private equity firms. Both possibilities are considered plausible given the substantial financial resources required to complete a transaction of this size.
The championship’s high valuation would make an acquisition particularly expensive, while the continued high cost of borrowing could complicate efforts to finance a deal. These factors may favour investors with significant available capital or groups capable of combining their financial resources.
Another possibility is a management buyout involving an investor working alongside Formula 1’s existing owners and team principals. Such an arrangement could resemble the ownership structures found in major American professional sports leagues, where team stakeholders play an important role in the wider organisation.
For Ferrari and the other Formula 1 teams, the prospect of a different ownership structure would represent a potentially significant development in the championship’s commercial future. However, Greg Maffei’s comments remain a prediction rather than confirmation of an agreed sale or a formal decision by Liberty Media to take Formula 1 private.
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