Ten years ago, F1 teams were worth £1. Today they’re worth billions.
The CEOs of Formula 1 and Liberty Media sit down with early investor Arman Gökgöl-Kline to break down one of the greatest sports turnarounds in history — and reveal what’s next with Apple TV, MotoGP, and the race for global attention.
From Bernie Ecclestone’s townhome to a nearly 900 million fan base. From Turkish Soccer League media rights to a partnership with Apple. This is the story of how F1 became an entertainment empire.
HIGHLIGHTS:
0:00 – Intro + F1 Hype Reel
1:55 – Panel Introductions
4:08 – “It was a game over situation” — Stefano on what people thought
5:10 – “F1 was exclusive — but exclusion can be negative”
9:28 – “F1 was run out of Bernie Ecclestone’s townhome in London”
10:40 – Why Liberty saw a “declining brand” and bought it anyway
11:21 – “Instead of penalizing drivers for social media, we encouraged it”
12:58 – “F1’s media rights were in the same zip code as Turkish Soccer”
14:48 – The cost cap: “It doesn’t do any good to win races if no one’s watching”
17:18 – “Sport worth 3x what it was 10 years ago”
17:38 – Fan base: 500M → 900M
19:47 – “Team values went from £1 to billions”
21:14 – “Our competition is not sport — it’s this finger”
22:15 – “We need to activate the five senses”
22:30 – The Apple TV deal: Tim Cook, IMAX races, 5 free races
26:01 – MotoGP: “Half the fans, 10-20% of the revenue”
KEY TAKEAWAYS:
- F1 team valuations: £1 → billions in 10 years
- Fan base grew from 500M to nearly 900M
- Sport value is 3x+ what it was a decade ago
- 2016: F1 media rights ≈ Turkish Soccer League
- The cultural shift: drivers were penalized for social media → now encouraged
- Liberty’s MotoGP thesis: 50% of F1 fans, 10-20% of revenue = massive upside
- Apple deal includes 5 free races + IMAX distribution
SPEAKERS:
- Stefano Domenicali — President & CEO, Formula 1
- Derek Chang — President & CEO, Liberty Media Corporation
- Arman Gökgöl-Kline — Partner & Portfolio Manager, Ruane Cunniff
Recorded live at Global Alts Miami 2026
