Formula 1 set for $8.5 billion sale

Formula 1 Italian GP 2016

Bernie Ecclestone could stand down from the helm of motorsport’s top series following a deal with Liberty Media Corporation

Formula 1 looks set to be sold to a US media company in an $8.4 billion (£6.3 billion) deal – and the move could herald the departure of long-standing F1 supremo Bernie Ecclestone.

F1 is currently controlled by CVC Capital Partners, a private equity group that has a 35% stake in Delta Topco, the company that owns the Formula One Group, which includes Formula One Management (FOM) and Formula One Administration (FOA).

Speculation at the weekend’s Italian Grand Prix – fuelled by Ecclestone (pictured …read more

Source:: Autocar