SPECULATION MOUNTS OVER TAKEOVER OF F1
Speculation is mounting that Formula One is about to be revamped by a US takeover that could bring new life and a higher profile for a sport that is struggling to attract new fans.
Reports suggest that F1’s largest and controlling shareholder, the hedge fund CVC Capital Partners, is preparing to sell the business to US media conglomerate Liberty Media for around $8.5 billion; more than four times CVC's original outlay in 2006.
At last weekend’s Italian GP, F1 commercial boss Bernie Ecclestone met with CVC co-chairman Donald Mackenzie, whose rare appearance in the paddock fuelled speculation of an imminent deal. When speaking at Monza, however, the 85-year-old Ecclestone would not confirm whether or not a sale is going ahead.