Teams in talks to buy into Formula One - Ecclestone
Could a group of teams overthrow Bernie Ecclestone.
Apr.9 (GMM) Bernie Ecclestone on Wednesday revealed that a group of teams is considering buying into Formula One.
It was rumoured in Bahrain that the F1 chief executive, who owns just 5 per cent of the sport, was putting the group of teams together in a possible move to buy out the majority shareholder CVC.
Ecclestone is facing trial in Germany later this month on bribery charges, and if convicted CVC has committed to standing him down.
It is rumoured that fronting the prospective team shareholders could be a way for him to remain in control no matter the outcome in Munich.
The 83-year-old told the Bloomberg news agency on Wednesday that a group of teams is indeed "having a conversation" about buying into F1.
He would not identify the teams, and insisted he is not part of the talks.
"We'll see what the group comes up with," said Ecclestone. "Maybe they will get enough together to buy shares."
He added that the talks for now are "just a conversation" and "may not go anywhere".
Also rumoured in Bahrain was that Ferrari and Red Bull are the major players in the consortium, having joined with Ecclestone in being highly critical of the new 2014 rules in a bid to devalue the sport ahead of a takeover bid.
When asked by the British broadcaster Sky in Bahrain if devaluing F1 was his plan, Ecclestone answered "Not really".
Share Or Save This Story
The season is still very long - Rosberg
Jules Bianchi's father speaks of family's continued hopes
Sauber under no illusions about constructors' position
Ex-F1 boss Bernie Ecclestone reportedly arrested for travelling with shotgun in Portugal
Bernie Ecclestone sends major F1 warning ahead of 2026: 'Danger is we lose the fans'
Bernie Ecclestone slams "over-confident" Lando Norris as he backs Max Verstappen for 2025 title
How the Bahrain GP in Malaysia exposed Red Bull’s hidden resurgence
The slick tyre gamble that hurt McLaren and Ferrari's Bahrain F1 chances
Ferrari’s Vigna on Vasseur and fake news: “There is only one reality”
Alex Marquez makes “unacceptable” gear-shifting mistake twice in wretched Japanese GP
Andrea Stella: F1 must avoid Sepang repeat, but "accept occasional glitches"
Bubba Wallace "paid the price on our front tires" in battle for Vegas win
How Elfyn Evans made WRC history in Hollywood blockbuster Sardinia decider
How F1 let a golden opportunity slip at Sepang
How the Bahrain GP in Malaysia exposed Red Bull’s hidden resurgence
You Ask The Questions: Emerson Fittipaldi
The wide world of strategy options expected in F1's Bahrain GP in Malaysia
Subscribe and access Motorsport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments