Private equity firm CVC Capital could be set to sell their 35% stake of Formula One.
CVC bought F1 for $2 billion in 2006 according to Forbes, ten years later and they could be on the brink of selling up.
‘I think CVC will make a decision on the sale sooner or later,’ Formula One commercial rights holder Bernie Ecclestone told the The Mail on Sunday.
‘There are people who want to buy. Actually, two of the people have agreed the price. It’s just a question of whether CVC wants to sell or not.’
If reports at the tail end of last year were accurate, those interested parties could be a consortium from China and Qatar or Miami Dolphins owner Stephen Ross.
What would a sale mean for Formula One and indeed the sports supremo Bernie Ecclestone? ‘You don’t know what’s going to happen until somebody buys and you see what they are like. How do you know if you will get on with them?’ he said.
In 2006 CVC paid around £1.2billion for a majority stake. Estimates in the media suggest CVC have since made between £2.8-3.5billion from F1.
If CVC Capital sell they could receive £6billion for their shares.
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