[Rumours] HUGE: CVC to sell out, oust Bernie?

[Mixer]

The owners of Formula One, CVC Capital Partners, are to sell a large part of their controlling 35.5% stake in the sport as they face up to life after Bernie Ecclestone. The new investors will “have a view on the value of the sport”, according to an insider.

Decision makers at the City-based private equity firm have decided that Ecclestone, the sport’s chief executive and commercial rights holder, must go even if he wins his court case in Munich, where he is fighting bribery charges.

http://www.theguardian.com/sport/201...nie-ecclestone

[Biscuits In A Red Bull]

Are there any other sources for this rumour? I'm crossing my fingers...

[Mixer]

Originally Posted by Biscuits In A Red Bull

Are there any other sources for this rumour? I'm crossing my fingers...

It's not Bild, its The Guardian, but I really don't know the quality of that source, hence rumour tag... But we can hope!

But I mean, Max's nazi hookers didn't do it

[naca]

We'll have to wait and see, although I'm guessing the source was one from the world of finance rather than motorsport so it's probably quite accurate.

[Mike Harte]

Your quote, and the link from which you say it's from, is neither rumour, nor is it, in any way, news!

At the time that CVC originally purchased their interest in Formula 1, they gave their own investors a time-line by which point they would divest themselves of all their shares in all of the F1 companies that the assets are hidden in. This is no secret, and they very nearly floated F1 "package" on the Singapore Stock Exchange a few years ago.

CVC's time has nearly run out, so no doubt they are actively looking for a buyer/s for their holdings, and there is also a strong possibility that a new owner may not wish to have Ecclestone as the effective face and "brains" behind running the organisation.

What this definitely is not is "HUGE".

[Casper]

But if and when it happens it will be a HUGE change within F1 and the organisation. I am not betting on it happening in the short term as CVC would be loathe to divest itself of its holdings and take a bath financially. The sport is not exactly a red hot buy at the moment for all the reasons that are known.

[Mike Harte]

Originally Posted by Casper

But if and when it happens it will be a HUGE change within F1 and the organisation. I am not betting on it happening in the short term as CVC would be loathe to divest itself of its holdings and take a bath financially. The sport is not exactly a red hot buy at the moment for all the reasons that are known.

Love him or loathe him, the irascible old goat is the glue that has kept, and still does to this day, Formula 1 together and made it into a multi-million (billion?) "industry". He says and does things that, I am sure, he does not mean, and at the age of 83, he is just carrying on to annoy a few more people. That, and counting his (or should that say Slavenca's?) money is the only real joy he has left.

I have a horrible feeling that Formula 1 may have reached it's nadir, and that post Ecclestone, we could possibly see a much poorer championship.

[321Go]

Originally Posted by Mike Harte

I also hate speculation because it's just such a waste of good thinking time

Originally Posted by Mike Harte

I have a horrible feeling that Formula 1 may have reached it's nadir, and that post Ecclestone, we could possibly see a much poorer championship.

Hmmm... ..such a waste of good thinking time.

[Moneyseeker]

Originally Posted by Mike Harte

Love him or loathe him, the irascible old goat is the glue that has kept, and still does to this day, Formula 1 together and made it into a multi-million (billion?) "industry". He says and does things that, I am sure, he does not mean, and at the age of 83, he is just carrying on to annoy a few more people. That, and counting his (or should that say Slavenca's?) money is the only real joy he has left.

I have a horrible feeling that Formula 1 may have reached it's nadir, and that post Ecclestone, we could possibly see a much poorer championship.

It could equally be much better. The ringmaster style of management is old hat and simply empowers the powerful teams that have more of a relationship with Bernie - e.g. Ferrari's special payments from FOM which mean they get more for finishing down the order than Red Bull do for winning it, or even Williams special heritage payment - whatever that means. These have nothing to do with 'prize money' and were simply support buyers when the teams breakaway was on the cards.

We even have the big teams partly making or influencing the regulations - how many sports have that?

Personally I don't want a F1 world championship that half the teams can't afford to take part in, racing on circuits that can't afford to hold the races.

The glue that binds Bernie to F1 is the 100 years rights agreement that gives a security of tenure unrivalled in any other sporting rights in the world - as far as I know. This puts all the chips in BE's hand and means FOM have to put almost no effort or investment into F1 - no marketing, promotion, social media, fan engagement - what promoter do you know that does no promotion of the product they own the rights to?

A more usual 10 year agreement would make the promoter of F1 have to work harder as they would have a shorter time to get ROI, would face the possibility of competition for the rights after 10 years, they would need a stronger and more equitable relationship with all the teams and the circuits, they wouldn't have time to scour the globe for another government to build another autodrome, they couldn't risk losing key traditional circuits from the calendar, etc