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Ecclestone confirms F1 could be sold end of 2015



Ecclestone confirms F1 could be sold end of 2015

Ecclestone confirms F1 could be sold end of 2015

Bernie Ecclestone has announced he plans to sell F1 by the end of 2015. Speaking at Camp Beckenbauer, F1 commercial right holder said while talking on screen that there would be a new owner before the end of the year.

Investment fund CVC Capital Partners, whose co-chairman is Donald Mackenzie, is F1’s largest and controlling shareholder.

“I think so, maybe this year. There are three people mentioned to buy. So it’s a case of whether CVC or Mr. Mackenzie wants to sell,” said Ecclestone to the Associated Press by phone.

One of the passionately tipped favorites is American billionaire Stephen Ross. The property mogul, who also owns NFL team the Miami Dolphins, has a fortune of nearly six billion euros ($6.7 billion).

Ross, along with partner Qatar Sports Investment (QSI) who own French football team Paris Saint-Germain, wants to take over 35.5 percent of F1’s largest and controlling shareholder, investment fund CVC Capital.

The 84-year-old Ecclestone isn’t thinking about retirement and he says “the people that I’ve spoken to … have asked me if I would stay.” (SID, AP)


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