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Formula One- Bernie Ecclestone
Formula One- Bernie Ecclestone

Formula One might be sold this year!

Formula One might be sold this year to one of three interested buyers, according to the sport’s boss Bernie Ecclestone. Investment fund CVC Capital Partners is Formula One‘s controlling shareholder. Stephen Ross, the owner of NFL side Miami Dolphins, has been working with investors from Qatar to buy a stake in Formula One.

Bernie Ecclestone, 84-year-old has not identified the potential buyers, but said he had been asked to remain as commercial chief. A role he has held since 1978 as per the BBC reported on Tuesday.

“There has been a lot of interest in Formula One and there are three interested parties at the moment. I will be surprised if one of them does not buy them shortly,” Ecclestone said.

Asked when he expects to see a new owner in Formula One, he replied: “This year.”

Ecclestone has a 5.3 percent stake in Formula One, while CVC owns 35.5 percent after initially gaining control of the sport in 2006 for around $2 billion.

Mercedes team boss Toto Wolff said the same conference that it is important to have a “sustainable shareholder with a long-term perspective and vision”.

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