Ecclestone getting ready to float F1

If Bernie floats F1 he and CVC stand to make a lot of money

F1 CEO Bernie Ecclestone has revealed that he has promised a 1% stake in F1's parent company to the sport's governing body, FIA, "in return for it signing a new commercial agreement" until the end of '20, according to Christian Sylt of the London GUARDIAN. The sport's 11 teams were already signed up to the end of '20, "so getting a commitment from the governing body paves the way for F1's long-awaited stock market flotation."

Ecclestone said, "The FIA gets 1% if F1 floats but the teams don't have shares." The largest F1 shareholder, private equity firm CVC, has put a $12B valuation on F1, "but the float has been stalled by the lack of agreement from the FIA and legal hurdles."

Legal wrangles "are not the only reason that a float of F1 has not got the green light." It was due to take place on the Singapore stock exchange in June last year, "but CVC halted it because of the eurozone crisis." GUARDIAN

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