Formula One flotation plans remain stalled

Plans for a stock market flotation of Formula One motor racing remain stalled, its top shareholder said yesterday, as F1’s chief executive Bernie Ecclestone faces legal action that could break his long grip on the sport.

Private equity fund CVC said a flotation was still its aim, but ruled out any action in the short term to revive plans for a listing.

“One day we’d like to float the company,” CVC co-chairman Donald Mackenzie told reporters as he left court after giving evidence in a damages case involving Ecclestone. “We’ve got no plans to do that in the imminent future.”