Rupert Murdoch And Carlos Slim In The Race For Formula 1

Sports

Rupert Murdoch And Carlos Slim In The Race For Formula 1

11:17 am, April 21st | by Hillary Reinsberg

The world’s richest man and the world’s most famous media magnate walk into a boardroom, and start talking about the world’s most popular sport. What do they decide to do?

Naturally, they decide to buy the sport.

Various sources report that Rupert Murdoch’s News Corp is in early talks with Carlos Slim, the world’s richest man, to buy Formula 1 Racing, the world’s most popular and widely-televised sport. Though Murdoch and Slim are apparently already discussing details, current executives at Formula 1 say they haven’t heard anything about an offer.

Outside of a general desire to own anything and everything in their midst, both moguls have vested interests in the sport. Slim already backs an elite Formula 1 team, Sauber, which has a number of drivers from Slim’s home country, Mexico. Not to mention, with $74 billion in his pocket, Slim has plenty of cash to throw at, well, pretty much whatever he wants. As for Murdoch, owning Formula 1 and its broadcast rights could be a valuable business move for News Corp.

Skeptics have already pointed out that the deal would have a number of flaws and that it likely wouldn’t go through. But our biggest concern? Just last month, Murdoch announced that News Corp was going “carbon neutral.” From what we understand, car racing isn’t exactly a sport embraced by tree-huggers.

TAGS: formula 1 | news corp | sports