Formula One for sale




Bernie Ecclestone, the commercial owner of Formula One is ready to sell the entire 35% controlling stake in the racing series which is owned by holding company CVC Capitol Partners. British news house, The Sun, reportedly hinted at a potential $8.5 billion dollars as the asking price for the deal.

Formula One for sale

Formula One for sale

Formula One is currently going through one of its all-time lows in terms of the sport being exciting enough for fans and people. Drivers are not happy with the rules, the teams are complaining about the regulations and the format of the sports are being changed every year adding to the rising cost of the sport. The latest debacle to have added to the list, is the poor qualifying format which saw spectators leave the stands at Australia even before the session was over.

CVC had paid around $1.7 billion in 2007 to take over the series and has since then sold off half of its original stake leaving with 35.5 percent. Ecclestone own a small part of the racing series and almost entire interest of CVC. He said that, “I think CVC will make a decision on the sale sooner or later. There are people who want to buy. Actually, two of the people have agreed the price. It is just a question of whether CVC wants to sell or not”.

If this sale takes place and CVC sells its entire stake in the sport, the 85-year old Ecclestone’s role in the sport would virtually come to an end. He has run the sport for over 40 years and has been associated with it even longer. It is unclear what role he would take up or would be rather retire and take his mind off F1 completely.

Tags: , , , , , ,

Anjan K Merkap

Author:

Cricket

ICC Champions Trophy Final 2017: India vs Pakistan – Live Cricket Score

ICC Champions Trophy Final 2017: India vs Pakistan – Live Cricket Score

Posted by: Atish Home Chowdhury on June 17th, 2017

The two cricket giants of Asia; India and Pakistan will lock horns against each other at the epic ICC Champions Trophy finale match at the Oval on Sunday. India ..

Football

FC Pune City wins Under-19 IFA Shield in its debut season

FC Pune City wins Under-19 IFA Shield in its debut season

Posted by: Vikram Kamboj on June 13th, 2017

The Rajesh Wadhawan Group and Hrithik Roshan co-owned Indian Super League team FC Pune City’s U-19 team wonthe prestigious 121st U-19 IFA Shield tournament in ..

Tennis

Rafael Nadal vs Stan Wawrinka: French Open Men’s Final 2017 – Preview

Rafael Nadal vs Stan Wawrinka: French Open Men’s Final 2017 – Preview

Posted by: Atish Home Chowdhury on June 11th, 2017

The stage is set for the mouth-watering and nail-biting clash of the two Tennis stalwarts of the current era; Rafael Nadal and Stan Wawrinka. This will be the u ..

F1

Life Lessons learned from Sports & Fitness #TOSBDay

Life Lessons learned from Sports & Fitness #TOSBDay

Posted by: Vikram Kamboj on September 26th, 2016

Held on Sept 1st, The Outstanding Speakers’ Bureau (TOSB) Twinterview consisted of sports panelists such as Mark Gallagher (Public Speaker on F1 race), Shayam ..

Boxing

Boxing Federation of India successfully concludes AIBA Course and Examination

Boxing Federation of India successfully concludes AIBA Course and Examination

Posted by: Vikram Kamboj on February 24th, 2017

Rohtak, February 24, 2016: In continuation to produce the AIBA certified Coaches, Referees and Judges; Boxing Federation of India successfully organised the AIB ..

Other Sports

Odisha turns 90 days challenge into nation’s pride all set to host 22nd AAC

Odisha turns 90 days challenge into nation’s pride all set to host 22nd AAC

Posted by: Vikram Kamboj on June 22nd, 2017

With just 90 days given to prepare, the Government of Odisha and the Athletics Federation of India pulled off an incredible story by putting together the 22nd A ..

One stop guide to all the latest sports news, reviews, opinions, fixtures and live scores from India and around the world.

Copyright © 2017 | The Sports Mirror