Bernie Ecclestone interested in buying Formula 1 back from CVC Capital – Formula 1 news
The current chief of Formula 1 Management Bernie Ecclestone has said that he is still interested in buying Formula 1 back if CVC Capital, the majority shareholders of the sport, decides to sell it.
There were rumours that the sport might be sold once again after 2011 as a result of which, the teams and some of the officials of the sport stated their concerns regarding its worth.
Other than that, it has been revealed that the sport might also change its media partners in Europe that is British Broadcasting Corporation at the moment. As a result, the officials are even more concerned about the reliability and respect of the sport
as well.
“I wouldn't buy at the price that I think CVC would sell it. But I would certainly buy at the price that they [News Corp. and Exor] want to pay. And the Ferrari people, the multiples that they thought they would like to pay for the company — I told them
that I would buy Ferrari at those multiples,” said Ecclestone.
According to some reports, it has been revealed that CVC is willing to sell the sport to News Corp which is also interested in becoming the sport’s media partners. However, the chief of Formula 1 Management claims that he is willing to take it all himself
as he already has some shares in Formula 1.
“There's been people talking all the time. But the bottom line is that CVC own the shares of the company — we own a few shares, the family trust owns a few shares, I own a few shares — but basically CVC own the company and they don't want to sell,” he said.
The officials are currently in a lot of confusion as they are facing some problems in making changes to the regulations of the sport.
Nevertheless, it seems that the sport is going to go through a major change in the 2014 Formula 1 season due to new engine regulations as a result of which the costs of the sport will decrease massively as well.
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