Formula 1 edges closer to a takeover

Date published: September 7 2016

As Formula 1 edges closer to a takeover by Liberty Media, Bernie Ecclestone has revealed that he has been asked to stay on.

The first installment of a multi-billion-pound deal to buy CVC Partners’ controlling share in Formula 1 is expected to take place on Wednesday.

This will give Liberty Media a third of CVC’s 35 percent stake in Delta Topco, Formula 1’s parent company.

The complete takeover will reportedly be concluded within six months, totalling around £6 billion.

“I have been offered a contract to stay around to help them,” Ecclestone told the Daily Mail. “It’s whether I want to do that. We’ll see.”

However, the F1 supremo has made it clear that if he doesn’t like the new regime under American mogul John Malone, he will walk away.

Speaking to The Times, the 85-year-old said: “I guess the new man will want to come in and make some noises.

“If I don’t like those noises, I will say adios.”