Report: Ecclestone mulls F1 commercial takeover

Published on NewsOK Modified: July 5, 2014 at 10:13 am •  Published: July 5, 2014
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SILVERSTONE, England (AP) — Bernie Ecclestone says he is considering buying back the commercial rights to Formula One, even as the 83-year-old remains on trial for alleged bribery.

Ecclestone is now a minority shareholder in the body that owns F1's commercial rights, having sold the majority stake to the hedge fund CVC Capital Partners, but remains as chief executive of the companies that own the rights and is still the sport's main powerbroker.

Amid reports that CVC is looking to sell out of F1, Ecclestone told Britain's Daily Express newspaper that he is interested in taking back the stake he sold 15 years ago.

"It is possible, although one or two other companies are interested and I would not enter an auction," Ecclestone was quoted as saying.

"You can make money from it, so it would not be a problem for me to find financial backers. I run it now, but it wouldn't make any difference. It just means I would have to buy the shares."

Ecclestone's advancing age, and the fact he is involved in an ongoing trial in Germany on bribery charges, were considered major impediments to his ambitions to buy back into the sport, but he dismissed such concerns.

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