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Speculation mounts that F1 is poised for a U.S. takeover
Speculation is mounting that Formula One is about to be revamped by a U.S. takeover that could bring new life and a higher profile for a sport that is struggling to attract new fans. Media reports suggest that F1's largest and controlling shareholder, the hedge fund CVC Capital Partners, is preparing to sell the business to U.S. media conglomerate Liberty Media for around $8.5 billion; more than four times CVC's original outlay in 2006. At last weekend's Italian Grand Prix, Formula One's commercial boss Bernie Ecclestone met with CVC co-chairman Donald Mackenzie, whose rare appearance in the paddock fueled speculation of an imminent deal. When speaking at Monza, however,...
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10y ago from F1Pulse.com
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