Madison Square Garden Sports Company (MSGS) is mentioned as an example of a sports franchise where the investment narrative is based on the hope of selling it as a trophy asset at higher prices.
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Formula One Group (FWONA): The Only Sports Franchise Worth Owning
The Intrinsic Value PodcastMay 17, 2026
The creator discusses Formula 1 Group (FWONA), a subsidiary of Liberty Media, highlighting its exclusive commercial rights to a sport with 800 million fans. The business model is characterized by a low number of events (24/year) generating billions in revenue with high free cash flow margins (over 24%). The fan base has grown significantly (63% since 2017), and the company has outperformed index returns since 2020. The creator contrasts F1 with other sports franchises, noting F1's strong free cash flow generation.
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Formula 1 Group (FWONA) is presented as a unique investment opportunity due to its exclusive commercial rights, strong revenue generation, high free cash flow margins, and rapidly growing fan base.
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FWONA
buy opened May 17, 2026
+10.75%