A decision as to whether Formula 1 will be sold will likely be made before the new season kicks off in March, according to Bernie Ecclestone.
Currently CVC own a 35.5 per cent controlling stake, whilst Ecclestone holds just 5 per cent. The remainder is held by various investment funds, such as BlackRock, Waddell & Reed and Norway’s Norges Bank.
CVC has previously had offers for its stake, but has refused to sell up, with the sport making billions in profit for the private equity firm.
However Ecclestone revealed that there are interested parties with the financial power to convince CVC otherwise.
“I think they will make up their mind in the next few months,” the 85-year-old told Handelsblatt. “I hope before the start of the 2016 championship in March, we’ll have decided if we sell – or not.
“There are probably only four people who could buy it. Only they have the amount of money.”
With regards to his own future, Ecclestone wasn’t able to confirm if he’d stay on if a potential sale went ahead.
“I don’t know if I will stay at the top,” he said. “It depends who buys. Let’s wait and see.”
Discussion about this post