Formula 1 CEO Bernie Ecclestone thrashes rumours that the sport is up for sale – Formula 1 news
The CEO of Formula 1 Management Bernie Ecclestone has thrashed rumours that the sport is up for sale and that News Corporation is going to overtake it.
These rumours were fuelled by some news agencies which were a part of News Corp. The news was followed by rumours that one of the richest people of the world, Carlos Slim who belongs to Mexico, was also a part of this dealing.
However, Bernie is quite serious about this matter as he believes that this is not a game.
“It is all rubbish. Formula One is not for sale, and anyway we would not sell to a media company because it would restrict the ability to negotiate with other broadcasters. CVC [F1's commercial owners] are not in the slightest bit interested in selling,”
said Bernie.
He stated that many people approach Capital Partners (CVC, commercial owners of the sport) but they have not put the sport up for sale and are here for the long-term.
Other than that, he stated that CVC is not looking to sell until they get a huge bid but until then, that is not possible.
Bernie Ecclestone added that if someone came in with a huge offer, much more than the sport’s current worth, then CVC might have a look at it but so far, they have not even talked about selling it.
On the other hand, Jackie Stewart stated that this building news about News Corp is unbelievable.
“When a company of News Corp’s size buys something they want to take control of it. It would be a very bitter pill for Bernie to swallow should they, or any buyer, decide to get rid of him. Formula One really is Bernie's entire life. He loves the challenge,”
said Jackie.
Getting rid of Bernie Ecclestone is going to affect the sport drastically and since Jackie believes that News Corp wants to take full control of whatever it buys, Bernie might be mouldable if such a situation arises which is not likely to happen anytime
soon.
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