Formula 1 Owners Deny That The Sport Is Up For Sale

The owners of Formula 1 appear to have "ruled out a quick sale despite speculation stoked by Bernie Ecclestone that the sport is on the market," according to Kevin Eason of the LONDON TIMES.

Controlling shareholders CVC Capital Partners Chair Donald Mackenzie contradicted his CEO’s assertion that the private equity group "needed to sell ​soon​, although potential buyers are thought to be circling."

Mackenzie said, "No, we are not obliged to sell. It is unlikely that we will be here forever; but we are definitely not obliged to sell. Bernie often says things he doesn't mean."

NFL Miami Dolphins Owner Stephen Ross' representatives, "said to be putting together a bid," were in Austin for the U.S. Grand Prix.

A potential bid could involve investors from China or Qatar, but "the rumor mill is spinning overtime and no one really knows who is involved or how an approach could be made."

Although Ecclestone has "regularly talked of three bidders waiting in the wings and CVC’s need to sell, he has played down the company’s desire to get rid of its best investment." Ecclestone said that MacKenzie’s "enthusiasm for the sport has turned him into a fan who may not want to ​sell his favorite asset." LONDON TIMES

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