Ecclestone in Ferrari buy-out interest

Bernie Ecclestone, the billionaire ringmaster of Formula 1, has admitted that he'd be interested in buying Ferrari if the price was right

Ecclestone in Ferrari buy-out interest

Ferrari was 90 percent owned by Fiat Auto, but the Italian car manufacturer has huge debts and in July it sold 34 percent of its stake to Italian bank Mediobanca for €775.2 million. With Fiat continuing to lose money it may be prepared to sell more, if not all, of its remaining holding and Ecclestone could be interested in taking control of the company that produces 5,000 high performance sportscars a year.

"It would depend on how the company was structured," Ecclestone told Italian newspaper Gazetta dello Sport, when asked if he would consider buying Ferrari. "The brand is strong [but] Ferrari spends much of its profit from car sales on motor racing. If it didn't do that, would they sell? I don't know if I want to buy shares, but for sure I'd be interested in buying Ferrari - if the price was right."

Ecclestone was a Formula 1 team owner in the 1970s and 80s when he ran the Brabham team, winning two world championships with Nelson Piquet in 1981 and 1983.

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