Pirelli to manufacture tyres in Saudi Arabia - GRAND PRIX 247 (www.grandprix247.com)

submitted 2 years ago by [email protected] to c/[email protected]

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PIF, Saudi Arabia’s $700-Billion sovereign wealth fund, will hold a 75% stake in the new JV, with Pirelli holding the remaining 25% and providing the technical and commercial support for the development of the project, the two groups said.

Reports back in January claimed that the PIF was targeting to buy Formula 1 from commercial rights holders Liberty Media and planning to pay up to $20-Billion.

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[-] [email protected] 14 points 2 years ago

If they'd actually buy F1 that would probably be the end of F1 as we know it.

[-] [email protected] 3 points 2 years ago

I hope Formula 1 dies if that happens. I'll just skip motorsport for a while.

[-] [email protected] 13 points 2 years ago

Yuck. I’m sure they’ll be happy to use all that slave labor.

[-] [email protected] 4 points 2 years ago

So they're not actually making F1 tyres there, this is just a joint venture for normal tyres. iirc the tyres for F1 are made in turkey.

this post was submitted on 27 Oct 2023

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