user icon

Breaking News: Chinese set to buyout F1 for $8.5bn

  • Published on 16 Oct 2015 16:35
  • comments 2
  • By: Harry Shovelar

SKY News is reporting that China Media Capital are set to buyout Formula 1 for $8.5bn within the next 90 days.

The bidders are one of China's most largest investment firms, and their offer is being backed by Stephen Ross, the owner of Miami Dolphins - an American football team. The only drawback to their attempts to become the sport's majority shareholder is that they will need another investor to contribute $2bn extra equity.

Despite the recent legal history between Mr Ecclestone and Mr Hahn, insiders said the consortium was keen for the 84-year-old F1 chief to retain his role overseeing its racing operations while a new commercial team would look to exploit the sport's media and sponsorship rights more aggressively. A source from SKY News stated that they believed they could "Double F1's Profits." 

CVC, F1's majority shareholder since 2005 are set to respond to the consortium's proposals very soon, but right now they have declined to comment. 

 

Replies (2)

Login to reply
  • It is and isnt surprising at the same time, as odd as that might sound. I am yet to figure out if I like it or not.

    • + 1
    • Oct 16 2015 - 17:48
  • f1dave

    Posts: 782

    "Ecclestone the 84-year-old F1 chief to retain his role overseeing its racing operations while a new commercial team would look to exploit the sport's media and sponsorship rights more aggressively."

    If this goes foreward I predict fewer tracks and television providers will be able to afford to continue to participate. Not looking good for the sport.

    • + 1
    • Oct 16 2015 - 19:02

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28
Bahrain
16 - Apr 18
Italy
7 - May 9
Spain
20 - May 23
Monaco
4 - Jun 6
Azerbaijan
18 - Jun 20
France
25 - Jun 27
Austria
2 - Jul 4
Austria
16 - Jul 18
United Kingdom
30 - Aug 1
Hungary
27 - Aug 29
Belgium
3 - Sep 5
Netherlands
10 - Sep 12
Italy
24 - Sep 26
Russian
8 - Oct 10
Japan
8 - Oct 10
Turkey
22 - Oct 24
United States of America
5 - Nov 7
Mexico
12 - Nov 14
Brazil
19 - Nov 21
Qatar
3 - Dec 5
Saudi Arabia
10 - Dec 12
United Arab Emirates
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28
16 - Apr 18
7 - May 9
20 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
18 - Jun 20
France Paul Ricard
25 - Jun 27
Austria Red Bull Ring
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
8 - Oct 10
8 - Oct 10
Turkey Istanbul Park
22 - Oct 24
United States of America Circuit of the Americas
5 - Nov 7
12 - Nov 14
Brazil Interlagos
19 - Nov 21
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar