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 Gazzetta dello Sport and Sky (Italy), the Sunday Times (Britain) and Auto Bild (Germany) all agree that Liberty Media, headed by US tycoon John Malone, is buying F1 for $8.5 billion.
The Sunday Times said F1 supremo Bernie Ecclestone is “refusing to deny” that the first transaction will be done early next week.
And Auto Motor und Sport claimed: “When we asked, Bernie Ecclestone confirmed that the sale will be done in the coming week.”
The reports claim the sale will be done in two stages, with Ecclestone to definitely stay as chief executive in the initial, transitional phase.
“I will do what I have always done,” Auto Motor und Sport quoted the 85-year-old as saying.
“It is my decision what role I take.”
The report linked Formula E chief Alejandro Agag with Ecclestone’s role beyond the first phase.
Germany’s Auto Bild claimed that Ecclestone is still pushing for CVC to sell to a Qatar group, so that he definitely retains his role at the top.
F1 legend Gerhard Berger welcomed the news that CVC is selling.
“It will bring in fresh ideas,” he told the Italian broadcaster Sky at Monza, adding that the fact the new owner is American will also help.
“America is a nut that formula one never really cracked,” Berger added.
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 […]
19/01/2017 Ecclestone to exit as FIA approves F1 buyout Jan.19 (GMM) The final hurdle has been cleared as Liberty Media races towards completing its takeover of formula one.
Earlier this week, shareholders of the US media tycoon John Malone's […]
24/01/2017 F1 supremo Ecclestone ‘dismissed’ Jan.24 (GMM) F1 chief executive Bernie Ecclestone has been officially ousted.
The news came as the sport's new owner Liberty Media announced it has completed its F1 takeover, installing […]
09/09/2016 F1 takeover must clear two hurdles Sep.9 (GMM) F1's sale to US tycoon John Malone's Liberty Media is yet to clear two significant hurdles.
The first is the approval of the sport's governing body, the FIA.
FIA president […]
28/09/2016 Berger hopes F1 avoids ‘power struggle’ Sep.28 (GMM) F1 legend Gerhard Berger has backed the sale of the sport's commercial rights to American mogul John Malone's Liberty Media.
Liberty is buying F1 after ten years of […]
23/01/2017 New Liberty era ‘good thing’ for F1 – Rosberg Jan.23 (GMM) This week could mark the end of Bernie Ecclestone's decades-long reign in formula one.
It is believed that, after Liberty Media offered the 86-year-old a less hands-on role […]
12/09/2016 Abu Dhabi could be Ecclestone’s last race – report Sep.12 (GMM) Bernie Ecclestone's future might not be as secure as it was earlier thought.
US media tycoon John Malone, whose 'Darth Vader' nickname was coined by Al Gore, was understood […]
09/12/2016 Liberty to vote on F1 buyout in January Dec.9 (GMM) F1's acquisition by Liberty Media will speed ahead early next year.
Currently, the company headed by US media tycoon John Malone has started to take over the commercial […]
08/11/2016 UK launches probe into Liberty takeover Nov.8 (GMM) The UK government has launched an investigation into the takeover of F1 by American tycoon John Malone's Liberty Media.
Bernie Ecclestone said last week that the takeover is […]