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Motor racing: Ecclestone says he could bid to buy back F1

Published on Jul 5, 2014 7:17 PM
 
Formula One supremo Bernie Ecclestone has raised the possibility of making a multi-billion dollar bid to buy back the sport's commercial rights from owners CVC Capital Partners. -- PHOTO: REUTERS

SILVERSTONE, England (REUTERS) - Formula One supremo Bernie Ecclestone has raised the possibility of making a multi-billion dollar bid to buy back the sport's commercial rights from owners CVC Capital Partners.

"It is possible, although one or two other companies are interested and I would not enter an auction," the 83-year-old, who is on trial in Germany accused of bribery, told the Daily Express newspaper on Saturday.

"Our company has been a very good investment for CVC and it would be a very good investment for me or anyone who owned it," he added. "You can make money from it, so it would not be a problem for me to find financial backers. I run it now but it wouldn't make any difference. It just means I would have to buy the shares."

London-based private equity firm CVC is the largest shareholder in Formula One with a stake of around 35 per cent.

 
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