Formula 1 (F1) racing has delivered thrilling racing action for 73 years, but its most recent six seasons have been its biggest by far in terms of fan attendance and revenue.

The turning point came when Liberty Media agreed to buy F1 in 2016 for $4.6 billion. The media giant has rapidly expanded the sport by adding new races, giving fans a more engaging experience, and pulling in blockbuster sponsorships. F1 is on track to deliver record revenue in 2023, but it's set to do even better in 2024 thanks to the largest racing calendar in the sport's history.

Here's the good news: Investors can buy a stake in the sport through Liberty Media Formula One (NASDAQ: FWON.A) (OTC: FWON.B) (NASDAQ: FWON.K) stock, and here's why they might want to do so ahead of the new year.

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Source Fool.com