Investment company CVC Capital Partners has said it is eager to get on working with Bernie Ecclestone on the future of Formula One now that its deal to buy into the sport has been approved.
The European Commission gave the green light for CVC to buy shares in Formula One's commercial rights company, providing that it divested its interest in marketing company Dorna that oversees MotoGP and other bike racing championships.
With CVC confident that it has 'adequate time to conduct an orderly sale process', the company is now focusing on its new partnership with Ecclestone. The first milestone will be finalising a deal with the sport's manufacturers to avert a breakaway championship.
Donald Mackenzie, from CVC, said on Tuesday: "We are pleased that we are now able to complete our investment in Formula One, and look forward to working with Bernie Ecclestone and his team to further develop and grow the business."