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Investing.com -- Bank of America said Formula One’s commercial momentum remained solid, supported by long term contracts, new sponsorships and growth in licensing and media rights.
It said Liberty Media’s plan to spin off Liberty Live should simplify the structure around FWONK and broaden investor appeal, while management commentary on the Las Vegas Grand Prix pointed to firm 2025 sales without discounting.
The broker said F1’s revenue base was highly contracted, with 18 of 24 races locked in through 2030, and noted sponsorship deals had more than doubled since 2020.
It said the new U.S. media rights contract with Apple offered flexibility for product investment and preserved subscriber data, with the U.S. and Asia still offering meaningful growth.
BofA said MotoGP was in the early stages of a multi year improvement under Liberty, with monetization levels well below Formula One and room to grow through new markets in Brazil and Argentina.
It said Liberty’s experience with F1 gave confidence that MotoGP’s economics would strengthen over time.
The firm kept its neutral rating, saying strong execution in recent years was reflected in the share price and that near term upside from race fees or media rights appeared limited.