The agreement of 50 million pounds per year to hold a Formula 1 race in Saudi Arabia in 2021 is coming closer to reality. That fact was revealed from British media reports, Daily Mail, Tuesday (01/14/2020).
Saudi Aramco, which is a national oil company is reported to have signed as a sponsor in a race agreement that could generate a fee of £50 million per year paid to Liberty Media.
So far there has been no further confirmation about this certainty. If it happens then the event name will be ‘Saudi Arabian Grand Prix Aramco’.
This news can be said as a manifestation of Liberty Media’s commitment to expanding Formula 1 fan networks.
The mass media company has promised to guarantee guarantees to protect the party travel team, sponsors, journalists, and fans of this ground jet sport.
Cultivation of this sport is part of Vision 2030 or is an attempt by the state to get out of dependence on oil revenues. Central to the project is a 130-mile ‘entertainment city’ in Qiddiya, southwest of the capital city of Riyadh.