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Ecclestone plays down F1 buy-back reports

Bernie Ecclestone Bernie Ecclestone has played down suggestions he is seriously considering to buy back Formula 1. Business journalist Christian Sylt claims the sport's biggest shareholder, CVC, is already committed to selling its stake by next July. 'The last thing Donald (Mackenzie) wants to do is to get out,' Ecclestone told the Sunday Telegraph, 'but I think the way their company is structured eventually they have to move on.' Sylt reports that CVC's memorandum dictates a ten-year term, with three one-year extensions but only if the majority of its investors agree. Indeed, reports of CVC's talks with potential buyers abound in the paddock. One of them could be Ecclestone, even though...
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3y ago from GrandPrix247.com 0
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