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BREAKING NEWS: Bernie Ecclestone admits F1 could be sold this year

  • Published on 07 Oct 2015 07:51
  • comments 1
  • By: Harry Shovelar

In a telephone interview with Camp Beckenbauer Global Summit, F1 Supremo Bernie Ecclestone has admitted that there are three serious bidders who could buy out the sport before the year is over. 

Formula One has various shareholders, with CVC owning the largest stake of 35.5% and Ecclestone himself owns 5.3% plus his family trust also has 8.5%. Ecclestone believes that current shareholders are now in a position to sell on and move out of the sport.

"Our shareholders are in a position at the moment where they have to lose some, or all, of their shares shortly.

"That's the way things are set up for them."

"There has been a lot of interest, and I would say there are three parties at the moment [where] I'd be surprised if one of them doesn't buy very shortly."

And when the interviewer questioned the Briton on how soon could we see the sport sold on, Ecclestone replied with "This Year". As of who the buyer could be, Ecclestone remained shy on the matter. But F1 has seen numerous buy-out attempts within the last year, but to no avail. US-Qatari consortium was interested in CVC's Share, which was led by RSE Ventures, an investment firm run by Stephen Ross, the owner of the NFL's Miami Dolphins.

Also last year Liberty Global and Discovery Communications, run by one of the world's richest men in billionaire American businessman John Malone, was also mentioned as a potential buyer.

 

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  • Would love to see someone like Ecclestone or Briatore own it :D

    • + 0
    • Oct 7 2015 - 12:47

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