F1 Sold for Billions?
F1 Sold for Billions?
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MONZA - Ahead of the series Formula One (F1) Monza, Italy, spread rumors if sale of Formula 1 to an American media group soon realized.
According to media reports on Sunday (4/9), the long awaited sale of F1 to an American media group is to be completed next week.
The well sourced German magazine, Auto Motor und Sport said that the sport's veteran commercial ring master, Bernie Ecclestone had confirmed the deal at the Italian Grand Prix.
The magazine reported that Ecclestone said Liberty Media will make the first of two payments on Tuesday in a deal valued at 8.5 billion dollars.
If that goes through, according to well informed paddock sources, current owners CVC Capital Parners, who hold a 35 percent, will leave the sport.
Liberty Media Group, which is listed on the New York Stock Exchange, is expected to take control of the company that will run F1.
Ecclestone (85) said his future with the business would remain in his hands.
"I will do what I have always done. What role I play is my decision," he told Auto Motor Und Sport.
![F1 Sold for Billions?]()
For known, name of Stephen Ross, Miami Dolphins owner and real estate magnate touted to buy F1. Ross’s history of tackling difficult projects such as the Hudson Yards complex and the Time Warner Centre has been said to have put him in pole position to secure a deal in F1.
If successful, F1 would be controlled by RSE Ventures, according to reports, with the possibility mooted of the sport being moved to the US and China.
According to media reports on Sunday (4/9), the long awaited sale of F1 to an American media group is to be completed next week.
The well sourced German magazine, Auto Motor und Sport said that the sport's veteran commercial ring master, Bernie Ecclestone had confirmed the deal at the Italian Grand Prix.
The magazine reported that Ecclestone said Liberty Media will make the first of two payments on Tuesday in a deal valued at 8.5 billion dollars.
If that goes through, according to well informed paddock sources, current owners CVC Capital Parners, who hold a 35 percent, will leave the sport.
Liberty Media Group, which is listed on the New York Stock Exchange, is expected to take control of the company that will run F1.
Ecclestone (85) said his future with the business would remain in his hands.
"I will do what I have always done. What role I play is my decision," he told Auto Motor Und Sport.
For known, name of Stephen Ross, Miami Dolphins owner and real estate magnate touted to buy F1. Ross’s history of tackling difficult projects such as the Hudson Yards complex and the Time Warner Centre has been said to have put him in pole position to secure a deal in F1.
If successful, F1 would be controlled by RSE Ventures, according to reports, with the possibility mooted of the sport being moved to the US and China.
(rnz)
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