Monday, 5 September 2016

F1: FORMULA ONE TAKEOVER COULD SPELL AN END OF AN ERA FOR ECCLESTONE


Bernie Ecclestone's era is about to shut down and in the words of Eddie Jordan, a former owner turned pundit, that Ecclestone will be out come Singapore GP...The issue is that Liberty Media from USA wants to but a controling stake of Formula One...They want 35.5% stake that is owned by CVC Media and now the two are about to reach a deal...The deal is worth $8.5 billion and may be concluded in a few weeks...Apart from CVC Media's 35.5% stake, US Fund manager Weddell & Reed has 20.9%, Ecclestone has 5.3% and his Bambino turst venture holds 8.5%...When asked about being ousted he said "Bullshit"...Ecclestone buit an empire out of F1 and made it what it is today and it wont be easy negotiating past him...Lets wait and see what will happen in the near future

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