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

Bernie Ecclestone reveals Formula 1 could be sold '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

Ranking the top 10 pre-war grand prix drivers

Ranking the top 10 pre-war grand prix drivers

Plus
Plus
Formula 1
Kevin Turner

Ranking the top 10 pre-war grand prix drivers Ranking the top 10 pre-war grand prix drivers

Why drivers are the least of Ferrari’s F1 worries

Why drivers are the least of Ferrari’s F1 worries

Plus
Plus
Formula 1
GP Racing

Why drivers are the least of Ferrari’s F1 worries Why drivers are the least of Ferrari’s F1 worries

How Vasseur has begun Ferrari’s mission to keep Leclerc on side

How Vasseur has begun Ferrari’s mission to keep Leclerc on side

Plus
Plus
Formula 1
GP Racing

How Vasseur has begun Ferrari’s mission to keep Leclerc on side How Vasseur has begun Ferrari’s mission to keep Leclerc on side

Why Red Bull’s biggest F1 adversary is now itself

Why Red Bull’s biggest F1 adversary is now itself

Plus
Plus
Formula 1
Saudi Arabian GP
Jonathan Noble

Why Red Bull’s biggest F1 adversary is now itself Why Red Bull’s biggest F1 adversary is now itself

How "only tough" Tost's public lack of trust could hurt AlphaTauri

How "only tough" Tost's public lack of trust could hurt AlphaTauri

Plus
Plus
Formula 1
Saudi Arabian GP
Jake Boxall-Legge

How "only tough" Tost's public lack of trust could hurt AlphaTauri How "only tough" Tost's public lack of trust could hurt AlphaTauri

What Perez's Jeddah joy means for F1’s 2023 hopes for a real title fight

What Perez's Jeddah joy means for F1’s 2023 hopes for a real title fight

Plus
Plus
Formula 1
Saudi Arabian GP
Alex Kalinauckas

What Perez's Jeddah joy means for F1’s 2023 hopes for a real title fight What Perez's Jeddah joy means for F1’s 2023 hopes for a real title fight

Saudi Arabian Grand Prix Driver Ratings 2023

Saudi Arabian Grand Prix Driver Ratings 2023

Plus
Plus
Formula 1
Saudi Arabian GP
Alex Kalinauckas

Saudi Arabian Grand Prix Driver Ratings 2023 Saudi Arabian Grand Prix Driver Ratings 2023

How Perez kept Verstappen’s Saudi Arabian GP surge at bay

How Perez kept Verstappen’s Saudi Arabian GP surge at bay

Plus
Plus
Formula 1
Saudi Arabian GP
Jake Boxall-Legge

How Perez kept Verstappen’s Saudi Arabian GP surge at bay How Perez kept Verstappen’s Saudi Arabian GP surge at bay