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Bernie Ecclestone Dismisses Reports of F1 Sale (20 April 2011) 

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Old 04-20-2011, 10:22 AM
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Bernie Ecclestone Dismisses Reports of F1 Sale (20 April 2011)

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Ecclestone said selling F1 to a media company would restrict negotiations with rival broadcasters

Quote:
Bernie Ecclestone has said reports that Rupert Murdoch's News Corporation is in talks to buy Formula 1 are "rubbish".

Sky News said the media mogul's company could make a joint bid with Mexican billionaire Carlos Slim, who sponsors the Sauber team.

However, such a move could face regulatory hurdles and could breach F1's own Concorde Agreement with the teams.

Mr Ecclestone told the Times newspaper: "Formula One is not for sale."

F1 is owned by the private equity firm CVC Partners, which paid about $1.7bn for the business in 2005.

Any takeover would be subject to re-negotiating the Concorde Agreement, a commercial arrangement involving the racing teams, CVC and the sport's governing body, the FIA.

This agreement says that the sport should be shown on free-to-air television where possible. The BBC currently has the broadcasting rights to F1.

Mr Ecclestone told the Times on Wednesday that selling the business to News Corp would complicate F1's freedom to negotiate rights to screen the sport.

"We would not sell to a media company because it would restrict the ability to negotiate with other broadcasters," he said.

News Corp, which owns 39% of broadcaster BSkyB and is trying to buy the rest of the company, could face regulatory hurdles if it took on broadcasting rights.

In 1998, News Corp tried to buy the Manchester United football team but was blocked by the Competition Commission because of Sky's dominance in broadcasting the sport.

Source : http://www.bbc.co.uk/news/business-13143365

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Old 04-20-2011, 11:02 AM
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Re: Bernie Ecclestone Dismisses Reports of F1 Sale (20 April 2011)

F1

they need brand new tracks, 10 miles long and five times wider than the current tracks, with shortcuts and more tyre choice, turbos, superchargers and a variety of fuels......it's gotta be the most boring motorsport around at the moment, the cars are just too fast for the tracks.....

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Old 04-20-2011, 11:42 AM
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Re: Bernie Ecclestone Dismisses Reports of F1 Sale (20 April 2011)

i thought the cars looked pretty weird this year. dont care that much for F1, but as long as they keep good crash videos coming i'm ok with them

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