Business tycoons Jeff Bezos and Elon Musk reportedly interested in buying F1

Multi-Billionaires Jeff Bezos and Elon Musk are reportedly interested in buying the commercial rights for F1 from its current owner Liberty Media. The speculations have risen after both business icons were in attendance for the Miami GP last weekend.

Musk and Bezos are two of the richest men on the planet and could likely buy the premier motorsport series at their whim. However, Liberty Media's existing deal is set to expire at the end of 2025.

The business tycoons were present in the F1 paddock at the Hard Rock Stadium. Both seemed curious to know more about the pinnacle of motorsports that involves hardcore engineering.

Musk was spotted in the Red Bull garage during the weekend and was also seen in a discussion with FIA president Mohammad Ben Sulayem. Bezos, meanwhile, was the guest McLaren garage for the weekend. He was spotted on the pit wall of the Papaya team, chatting with their engineers.

Fox Sports reports that a complete buyout isn't likely but the business entrepreneurs seem to have 'serious interest' in some form of investment.

Grand Prix of Miami

On the other hand, Liberty Media has no interest in selling the asset it reportedly bought for $4 billion in 2017. The American media giant recently rejected a $20 billion offer for F1's commercial rights that originated from Saudi Arabia.

The American company has completely changed the landscape of F1, since its acquisition. The sport has seen growth in younger audiences which can be credited to the increased social media presence. Netflix docu-series 'Drive to Survive' has also popularised the sport in various regions bringing in new audiences.

Liberty Media is said to have doubled the value of the championship since buying it six years ago. With the deal nearing its end in 2025, a sale could be on the cards if the right value is offered.

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Pirelli set to introduce new F1 tire construction in the British GP

F1's tire supplier Pirelli has announced that it will introduce a new tougher tire construction starting from the British GP. The tire supplier has felt the need to intervene as most of the teams have made drastic gains in downforce levels.

This early change is not due to safety concerns but aims at preventing tire issues in future races. FIA gave its approval for the change, as it has the power to alter any car specification for safety reasons.

Mario Isola, Pirelli's head of car racing and F1, said:

"We've seen how much more performance the 2023 cars have compared to last year throughout the opening races of this season, and that is thanks to the extraordinary pace of development shown by all 10 of the teams..."

He added:

"Pirelli's simulation work has always been aimed at not only supplying a product that hits the performance targets specified by stakeholders, but also anticipating any potential problems and reacting to them quickly."

Each car will be given two sets of tires for testing in the FP1 and FP2 sessions over the Spanish GP weekend.