F1 Owner’s $2 Billion Rout After Iran Clouds Start to Season

Liberty Media Corp.’s Formula One has seen more than $2 billion wiped off its market value since the Iran war began, as concerns about races in the Middle East weigh on one of the world’s most popular sports.

The new F1 season begins this weekend in Melbourne, Australia, the first of 24 races in 2026. Uncertainty surrounds two races next month in Bahrain and Saudi Arabia, with the conflict ramping up across the region. The Qatar and Abu Dhabi grand prix are due to round off the season toward the end of the year.