Bernie Ecclestone reveals Formula 1 could be sold 'this year'

Bernie Ecclestone has revealed Formula 1 could be sold off before the end of this year

F1 supremo Ecclestone claims there are currently three serious bidders in the running to purchase a majority shareholding.

At present CVC Capital Partners holds the largest share at 35.5 per cent, with Ecclestone claiming a 5.3 per cent stake, while the 84-year-old's Bambino family trust has a further 8.5 per cent.

The other shareholders are investment management company Blackrock, US fund manager Waddell & Reed, Norges, the world's largest sovereign wealth fund based in Norway, with a 15 per cent stake held by failed investment bank Lehman Brothers.

Speaking at the Camp Beckenbauer Global Summit via telephone, 84-year-old Ecclestone revealed a number of shares are due to become available soon.

Asked about the future ownership of F1, Ecclestone said: "Our shareholders are in a position at the moment where they have to lose some, or all, of their shares shortly.

"That's the way things are set up for them.

"There has been a lot of interest, and I would say there are three parties at the moment [where] I'd be surprised if one of them doesn't buy very shortly."

Questioned on the timeframe he expected for there to be a new owner of F1, Ecclestone replied: "This year."

It emerged in June that a US-Qatari consortium was interested in CVC's holding, led by RSE Ventures, an investment firm run by Stephen Ross, the owner of the NFL's Miami Dolphins.

Last year Liberty Global and Discovery Communications, run by one of the world's richest men in billionaire American businessman John Malone, was also mentioned as a potential buyer.

shares
comments

Will Stevens wants 'competitive' Manor F1 seat for 2016 season

How 50-car Formula 3 could work

How Mercedes' new F1 upgrades fared - and what's next for the revitalised W14

How Mercedes' new F1 upgrades fared - and what's next for the revitalised W14

Plus
Plus
Formula 1
Monaco GP
Jake Boxall-Legge

How Mercedes' new F1 upgrades fared - and what's next for the revitalised W14 How Mercedes' new F1 upgrades fared - and what's next for the revitalised W14

Why the highlight of F1 2023 so far should end Monaco's calendar slot debate

Why the highlight of F1 2023 so far should end Monaco's calendar slot debate

Plus
Plus
Formula 1
Monaco GP
Alex Kalinuackas

Why the highlight of F1 2023 so far should end Monaco's calendar slot debate Why the highlight of F1 2023 so far should end Monaco's calendar slot debate

Monaco Grand Prix Driver Ratings 2023

Monaco Grand Prix Driver Ratings 2023

Plus
Plus
Formula 1
Monaco GP
Jake Boxall-Legge

Monaco Grand Prix Driver Ratings 2023 Monaco Grand Prix Driver Ratings 2023

Why Alonso and Aston made the call that guaranteed Verstappen's Monaco victory

Why Alonso and Aston made the call that guaranteed Verstappen's Monaco victory

Plus
Plus
Formula 1
Monaco GP
Jake Boxall-Legge

Why Alonso and Aston made the call that guaranteed Verstappen's Monaco victory Why Alonso and Aston made the call that guaranteed Verstappen's Monaco victory

The factors for and against a Red Bull upset in F1’s Monaco GP

The factors for and against a Red Bull upset in F1’s Monaco GP

Plus
Plus
Formula 1
Monaco GP
Alex Kalinauckas

The factors for and against a Red Bull upset in F1’s Monaco GP The factors for and against a Red Bull upset in F1’s Monaco GP

What Aston Martin's Honda deal reveals about its true F1 mindset

What Aston Martin's Honda deal reveals about its true F1 mindset

Plus
Plus
Formula 1
Jonathan Noble

What Aston Martin's Honda deal reveals about its true F1 mindset What Aston Martin's Honda deal reveals about its true F1 mindset

Would Hamilton really be a worthwhile F1 investment for Ferrari?

Would Hamilton really be a worthwhile F1 investment for Ferrari?

Plus
Plus
Formula 1
Monaco GP
Matt Kew

Would Hamilton really be a worthwhile F1 investment for Ferrari? Would Hamilton really be a worthwhile F1 investment for Ferrari?

Why the growing pains of F1’s cost-cap era require patience

Why the growing pains of F1’s cost-cap era require patience

Plus
Plus
Formula 1
Jake Boxall-Legge

Why the growing pains of F1’s cost-cap era require patience Why the growing pains of F1’s cost-cap era require patience

Subscribe