Sep.5 (GMM) As big rumours swirl about the sale of F1’s commercial rights, Bernie Ecclestone has named a potential successor as chief executive.
At Monza, speculation swirled in the paddock that owner CVC had agreed an $8.5 billion sale deal with Liberty Media, headed by US media tycoon John Malone.
Multiple authoritative publications predicted that Ecclestone would only stay in charge for a transitionary phase, while F1 pundit Eddie Jordan claimed the 85-year-old would be gone by the time of the next race in Singapore.
Jordan told the German newspaper Bild: “I assume Bernie will announce his retirement in the next few days.”
Ecclestone, having earlier confirmed the reports in the German press, dismissed the talk.
“You know what deals are like,” he said. “Until the money is in the bank it’s all nonsense.”
It is rumoured Ecclestone prefers selling to another interested party because it will guarantee his ongoing role at the top.
However, speaking to the German newspaper Bild, Ecclestone was then asked if he thinks Mercedes team boss Toto Wolff is the right man for the job.
“Absolutely,” he answered. “He has the skills to do the job.”
Ecclestone also said the shares that he controls – almost 14 per cent – are “not for sale”.
It has been said the sale to a major US enterprise could ramp up F1’s impact in the crucial American market, but Ecclestone insisted: “I think you would need 10 races for that.
“A lot of hamburgers would be sold, the prices would go down, and it would no longer be formula one.”
When Wolff was asked about the swirling stories, he answered: “Honestly, I don’t know. The details of the deal are not known to me.
“Over the past 50 years, Bernie has done a great job to make formula one as we know it today, and we all recognise his contribution.
“Only the future will reveal what opportunities there are to improve it further, but I would not like to speculate,” Wolff added.
25/06/2017 Wolff slams Jordan’s ‘fake news’ Jun.25 (GMM) Toto Wolff has hit out at F1 media personality Eddie Jordan for perpetuating a rumour about Mercedes' future in the sport.
The German team recently rejected former team boss […]
18/03/2016 Wolff’s season hits snag at paddock gates Mar.18 (GMM) The start of Toto Wolff's 2016 campaign hit a roadblock even before he entered the paddock gates in Melbourne. Germany's Auto Bild noticed that the Austrian only gained […]
29/01/2018 F1 at risk of political turmoil – Berger Jan.29 (GMM) Toto Wolff says he misses F1 supremo Bernie Ecclestone's ability to get things done.
The Mercedes boss says Liberty Media has been in a "honeymoon period" since succeeding […]
04/07/2017 Jordan says Wolff will not silence him Jul.4 (GMM) Eddie Jordan says he will not be silenced, after being slammed by Mercedes team boss Toto Wolff.
In Baku, Wolff lashed out at the former F1 team owner turned television […]
30/04/2017 McLaren, Mercedes deny 2018 rumours Apr.30 (GMM) McLaren and Mercedes have denied claims they are teaming up for 2018.
Amid the Honda performance crisis, rumours are sweeping the Sochi paddock that a deal for a reunion of […]
16/07/2017 Mercedes tackles quit rumours with sponsor news Jul.16 (GMM) Mercedes has hit back at rumours the German carmaker might pull out of formula one in the coming years.
Recently, team boss Toto Wolff slammed F1 pundit Eddie Jordan for […]
04/05/2017 Jordan sure Vettel in Mercedes talks May 4 (GMM) Former F1 team boss Eddie Jordan is certain Sebastian Vettel is in talks about a potential switch to Mercedes for 2018.
Commonly a sensational predictor of big F1 news, […]
07/09/2016 Ecclestone not committing to post-sale F1 Sep.7 (GMM) Bernie Ecclestone is not committing to his current role in charge of F1 if the sale to US media tycoon John Malone's Liberty Group goes through.
The first instalment in the […]
04/09/2016 Sale of F1 by CVC definitely done – reports Sep.4 (GMM) The deal is definitely done on the sale of F1's majority stake by current owners CVC, according to multiple authoritative publications.
Auto Motor und Sport (Germany), La […]
26/04/2017 Ecclestone sends ‘message’ to new F1 bosses Apr.26 (GMM) Bernie Ecclestone has lobbed an apparent threat in the direction of F1's new regime.
The sport's long-time supremo was ousted amid the recent takeover by Liberty, replaced […]