Formula 1 Might be For Sale After All, Rumors Say $8.5 Bn Deal Is In Final Phase

Bernie Ecclestone in 2013 1 photo
Photo: Brembo
We recently reported that Formula 1 might get a new owner of the majority stake. Apparently, it was more than a mere rumor.
Just like we previously wrote, the American corporation named Liberty Media is the bidder with the biggest chance of closing the $8.5 billion deal.

According to the BBC, the deal would be made with CVC Partners, a company that owns a 35 percent stake in the most prestigious branch of motorsport. The source quoted by the BBC stated that discussions are at an advanced stage.

It is important to note that the British Broadcasting Company has been informed by one source close to the deal that the final agreement has yet to be completed. The mention refers to the fact that other potential parties are still in the game, but only if they match or exceed the offer from Liberty Media, which is not necessarily $8.5 billion.

On the other hand, the German magazine Auto Motor und Sport claims that Bernie Ecclestone mentioned the figure and even confirmed the deal. However, when asked about the matter at the Italian Grand Prix in Monza, on Sunday, Bernie Ecclestone refused to comment the sale.

Mr. Bernie Ecclestone is F1’s Chief Executive, and he knows his way with deals better than the one that wrote a volume about it. Bernie owns a 5.3% stake in Formula 1, and does not seem willing to sell his cut.

The eventual sale of Formula 1 would bring an end to over a year of speculation and various rumors. CVC Partners has held a stake in Formula 1 for over a decade in Formula 1, but there’s always the option of selling and investing in something else.

Outside Liberty Media, other potential partners include Qatar Sports Investments, and Steven Ross, the owner of the Miami Dolphins American football team.

The new controlling owner of the sport has a significant responsibility with Formula 1, as the competition involves billions of dollars in development budgets, marketing, tickets, and various forms of obtaining profit. It is a cash cow, but could become a nightmare in the wrong hands.
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About the author: Sebastian Toma
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Sebastian's love for cars began at a young age. Little did he know that a career would emerge from this passion (and that it would not, sadly, involve being a professional racecar driver). In over fourteen years, he got behind the wheel of several hundred vehicles and in the offices of the most important car publications in his homeland.
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