Formula 1 could be sold this year: Bernie Ecclestone

Sochi (Russia), Oct 7 (IANS) Formula One might be sold this year to one of three interested buyers, according to the sport’s boss Bernie Ecclestone.

The 84-year-old has not identified the potential buyers, but said he had been asked to remain as commercial chief, a role he has held since 1978, the BBC reported on Tuesday.

Stephen Ross, the owner of NFL side Miami Dolphins, has been working with investors from Qatar to buy a stake in the sport.

Investment fund CVC Capital Partners is F1’s controlling shareholder.

“There has been a lot of interest and there are three interested parties at the moment. I will be surprised if one of them does not buy them shortly,” Ecclestone said.

Asked when he expects to see a new owner in F1, he replied: “This year.”

Ecclestone has a 5.3 percent stake in F1, while CVC owns 35.5 percent after initially gaining control of the sport in 2006 for around $2 billion.

Mercedes team boss Toto Wolff said the same conference that it is important to have a “sustainable shareholder with a long-term perspective and vision”.

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