Formula 1 Not for Sale - Owner

James Murdoch and his News Corporation may be interested in purchasing Formula 1 from the CVC Capital Partners, but the only way they could be involved in the business of the Great Circus would be as potential investors.

Responding to a recent statement released by News Corp, according to which the media group is planning an F1 takeover in a joint effort with Italian investment company EXOR, the CVC issued a media release in which it stated very clear that F1 is not for sale. In addition, the company confirms a “friendly” approach from James Murdoch's company in recent days.

CVC can confirm that it has recently received an approach from the Exor News Corporation consortium,” said the owners of Formula 1 in the statement.

James Murdoch has informed us that the approach is friendly, at a very preliminary stage, and that they acknowledge that Formula 1 is privately owned by CVC and not currently for sale,” it added, building on Bernie Ecclestone's recent comments in the media that the Great Circus is not for sale.

The F1 chief executive has addressed the rumors in the media as early as last week, saying that there's no way the CVC would sell F1 in the near future and, in case they'd choose to do so, he would probably have to step down from his position as series boss.

However, while denying plans to sell F1, the CVC hinted that they are willing to negotiate a potential investment deal with both the News Corporation and EXOR.

CVC recognises the quality of Exor and News Corporation as potential investors, but any investment in Formula 1 will require CVC's agreement and will need to demonstrate that it is in the interest of the sport and its stakeholders, taken as a whole.”
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