Formula 1 CEO Bernie Ecclestone willing to sell his stake in football
Bernie Ecclestone, the CEO of Formula 1 Management has recently stated that he is willing to sell his stake in Queens Park Rangers, which is a football team.
Bernie along with former RenaultF1’s boss Flavio Briatore finished a 14 million pound takeover of the team back in 2007, as a result of which Flavio became the team’s chairman.
However, Briatore had to step down from his position at the beginning of 2010 and now according to some rumours, it has been revealed that Ecclestone is willing to sell his stake in the team as well for about 100 million pounds.
“If somebody bought that team today it would be a very good punt. It is probably worth £100m”, Ecclestone told the media.
However, in order to make this sale, Flavio Briatore’s confirmation is required but since he sold his own shares of the team, which were around 62% to Ecclestone’s shares last December, it seems that Bernie might not have to go through any problem in order
to confirm his decision of selling his stake.
“I don't have any choice staying in or going out. Flavio would probably be the one to sell if anybody ... It is dependent on Flavio”, said Ecclestone.
The FIA along with Bernie Ecclestone has taken Formula 1 to where it is at the moment and now, it is expected that the organizers Bernie in particular, is trying to expand the sport and take it to countries such as Russia, India, and, the US once again,
in the near future.
Other than that, the new rules of the 2011 Formula 1 season have affected the sport in a way as well since the new tyre suppliers of the sport, Pirelli, have been quite active in the development of this season and since the reintroduction of KERS (Kinetic
Energy Recovery System) and DRS (Drag Reduction System) it is believed that the overtaking rate of the sport will increase immensely.
Nevertheless, it seems now that Bernie does not want to stick his fingers outside of Formula 1 and he might get rid of his stake in football.
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