Formula 1 sale just days away

Formula 1 could be sold to Liberty Media as early as Tuesday when the first financial installment will be reportedly be paid.

According to German publication Auto Motor und Sport, CVC Capital Partners have agreed to sell their 35 percent stake in Formula 1 to Liberty Media.

When rumours of the deal first emerged weeks ago, F1 supremo Bernie Ecclestone said that he will “believe it only when the money is in the bank.”

That could be as early as Tuesday.

F1 journalist Michael Schmidt is reporting that the sale will go ahead, and that Liberty Media won’t only be buying CVC’s shares but others as well.

They are paying a reported $8.5 billion.

As for Ecclestone’s position under the new owners, he said: “I will do what I have always done. What role I take is my decision.

Asked whether he will continue to be present in the F1 paddock, he told the publication: “We will see.”

Experience the full coverage of the FIA Formula One season throughout 2016 on FOX Sports Play, where you can watch LIVE races from angles unlike any other, highlights, interviews, behind the scenes and many more. Don’t miss it!

Comments