Bernie Ecclestone has denied reports about a possible takeover of Formula One by a consortium led by News Corporation owned by Rupert Murdoch. Previously reported, the media giant News Corp held talks with Mexican billionaire Carlos Slim, who is currently sponsoring the Sauber team, and leading car manufacturers, who according to rumors is a Ferrari, of the possibility they made an offer for F1.
But Ecclestone, chief executive of the venture capital firm CVC has the F1, claiming that there is no truth in the story at all. "It's all rubbish," said Ecclestone told The Times. "Formula One is not for sale, and anyway we will not sell it to media companies because it means it will limit the ability to negotiate with other broadcasters," he said as reported by AFP.
News Corp. and Slim, which could raise about U.S. $ 45 billion, and Ferrari will be able to use the great wealth to satisfy their combined estimated price demanded by Ecclestone. But the number one in F1 it was confirmed that he never made contact with one of them.
"I know Rupert and (leader News Corp. Internationl) James Murdoch and Carlos Slim, and if they want to do something they would contact me directly, and to date it has not happened," Ecclestone told the BBC.
Although there is a bid for it, every attempt a takeover of Formula One should still be subject to the new Concorde Agreement that has been held previously. Concorde Agreement is a commercial arrangement that involved the team, CVC and the FIA (International Automobile Federation), which binds all parties associated with the sport. And, this new agreement will expire at the end of next year.
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