CVC Capital Partners, the investment firm which currently owns Formula One, has broken its silence over the recent announcement that NewsCorp along with Exor, are looking to acquire the sport.
As previously reported, the two companies confirmed on Tuesday evening that were looking into “exploring the possibility of creating a consortium with a view to formulating a long‐term plan for the development of Formula One.”
CVC has now admitted that they have been approached in a ‘friendly’ manner, but made it known that F1 isn’t for sale and any future sale would require a deal to be ‘in the interests of the sport’.
“CVC can confirm that it has recently received an approach from the Exor News Corporation consortium,” a spokesperson told SkyNews.
“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.
“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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