Tag Archive: CVC Capital Partners

Sep 08

Liberty Media confirms F1 purchase

The American firm Liberty Media has confirmed its purchase of Formula 1 for £3.3bn with Bernie Ecclestone remaining as chief executive

2016-06-12 - DimancheThe deal comes after weeks of speculation with rumours the Italian Grand Prix would be Ecclestone’s final race in charge of the sport. Yesterday, the 85-year-old said he has been asked to remain involved in F1 for three years once the purchase had been officially confirmed.

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Sep 07

Ecclestone asked to stay in F1 for three years

After recent heightened speculation it was believed Ecclestone may be on the way out of F1 as part of the Liberty Group sale
2016-06-09_0215 Formula 1 supremo Bernie Ecclestone has reportedly been asked to stay on for three years once the expected takeover of the sport is completed by Liberty Group. Read the rest of this entry »
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Oct 07

Ecclestone reveals F1 could be sold ‘this year’

Bernie Ecclestone has suggested Formula 1 could be sold to one of three potential buyers in the next couple of months

2015-06-07_0178 Bernie Ecclestone says there are three interested parties looking to purchase F1 and a deal could be finalised before the year is out. Read the rest of this entry »

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Jul 28

CVC investors ‘worried’ about Ecclestone scandal

Investors in F1’s owner CVC Capital Partners are worried about the Gerhard Gribkowsky bribery scandal, the Financial Times has reported

2011-06-09_0309Gerhard Gribkowsky The report said the investors are calling on the private equity group to clarify the affair, with F1 chief executive Bernie Ecclestone accused of bribing Gribkowsky amid BayernLB’s sale of formula one to CVC some years ago. Read the rest of this entry »

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May 04

Ferrari-linked company confirms F1 takeover interest

CVC responded by insisting the potential takeover consortium knows F1 is “not currently for sale”.

News Corporation 2011-05-03FiatF1’s owner CVC Capital Partners has confirmed that Rupert Murdoch’s News Corporation and the Ferrari-linked Exor company have made a “friendly” approach. News Corp and Exor SpA, controlled by the Agnelli family and with a significant shareholding in Ferrari parent Fiat, confirmed jointly on Tuesday that they are “formulating a long-term plan for the development of formula one”. Read the rest of this entry »

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Feb 16

F1 owner CVC launches Gribkowsky bribe investigation

F1’s owner has launched an investigation into the takeover of the sport five years ago.

Flagworld - F1The news comes after banker Gerhard Gribkoswky was jailed on charges surrounding his receipt of $50 million, with mainly German publications claiming F1 chief executive Bernie Ecclestone may be connected with the mystery payment. Read the rest of this entry »

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Feb 08

F1 rights sale saga worsens for Ecclestone

And the latest explosive details have been published by the German weekly Der Spiegel.

Flagworld - F1Bernie Ecclestone is the subject of ever-worsening claims about the sale of F1’s commercial rights five years ago. It has already been alleged that it was the sport’s chief executive and long-time ‘supremo’ who paid German banker Gerhard Gribkowsky a mysterious $50 million kickback. Read the rest of this entry »

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Jan 06

Banker arrested over $50m F1 rights kickback

Munich prosecutors confirmed late on Wednesday that Gribkowsky was arrested

Flagworld - F1The banker accused of taking a $50 million bribe amid the sale of F1’s commercial rights five years ago has been arrested. Read the rest of this entry »

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Jan 04

Report – Banker paid $50m for F1 power role?

Gribkowsky may have been paid the handsome sum of US $50 million

Flagworld - F1According to a report in the German press, a banker became a multi-millionaire following his links to formula one’s commercial rights. Read the rest of this entry »

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Nov 01

No public floatation for F1 – Ecclestone

F1’s new team ‘cripples’ are ‘an embarrassment’ – Ecclestone

2010-10-24 - Hispania F1 Racing Team - Colin Kolles - Bernie EcclestoneBernie Ecclestone - Vladimir Putin - Photo Mikhail Metzel APBernie Ecclestone has played down suggestions formula one might be sold to the public. A few years ago, the F1 chief executive said an initial public offering “would probably be the right way to go” for the sport. Read the rest of this entry »

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May 28

Rumour – 2010 to be F1’s last trip to Turkey? (updated)

Rumours persist that this weekend’s grand prix will be the last in Turkey.
Bernie on Turkey, USA, tyres and Korea

Istanbul ParkSince the Istanbul Park venue hosted its first race in 2005, the layout – featuring the now famous Turn 8 – has received widespread praise. Bernie Ecclestone on Friday scotched renewed rumours about the future of the Turkish grand prix. Read the rest of this entry »

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Aug 03

CVC deny plans to sell F1, replace Ecclestone

We see our investment as long term

CVC Capital Partners, the majority owner of formula one’s commercial rights, has denied it plans to sell up or replace Bernie Ecclestone as chief executive. Read the rest of this entry »

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