Ecclestone Shoots Down Murdoch F1 Takeover Report
LONDON – Bernie Ecclestone says his Formula One company is not for sale, brushing off reports that Rupert Murdoch’s News Corp. is interested in taking over the sport.
Sky News says News Corp. has begun talks with Mexican telecom magnate Carlos Slim about forming a consortium to buy control of F1 from private equity firm CVC Capital.
But Ecclestone, who runs F1 on behalf of CVC, reiterated his intention to stay in control for some time yet. Ecclestone tells British newspaper The Daily Telegraph that the report was “rubbish,” adding that “the sport is not for sale.”
Slim topped this year’s Forbes’ rich list with an estimated fortune of $74 billion.