F1 boss Bernie Ecclestone is expecting the race series to be sold off before year’s end, the BBC reports. The 84-year old, who currently owns a 5.3% stake in F1, said the series could be sold off to one of three interested parties.
“There has been a lot of interest and there are three (interested parties) at the moment,” Ecclestone said.
“I will be surprised if one of them does not buy them shortly.”
Investment fund CVC Capital Partners currently has a 35.5% controlling stake in F1. They bought into the series for $2 billion in 2006, however it’s not clear how much it may sell for nearly a decade later.
Miami Dolphins owner Stephen Ross, who also founded multi-national sports and entertainment venture firm RSE Ventures, is rumored to be in talks with Qatari investors to buy F1. Despite the reports, BBC F1 correspondent Andrew Benson is doubtful of the sale, noting “CVC Capital Partners has shown no inclination to sell up.”
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