McLaren team principal Martin Whitmarsh believes Bernie Ecclestone’s plans to float Formula One on the stock exchange would bring no benefit to the sport.
It has been suggested that Ecclestone is preparing an initial public offering (IPO) in Asia, most likely on the Singapore Stock Exchange.
“I don’t think it will benefit us as a team, but I have no detail of proposals anyway,” said Whitmarsh.
“Generally flotations and change of ownership are not done for the benefit of a sport. What we, as race teams, need to concentrate on is putting a show on here, and the owners can decide what they do with the asset.”
Asked whether McLaren as an organisation would be interested in purchasing a stake in F1, Whitmarsh dismissed the idea.
“Our business is we are a race team, although we’ve a few other businesses as well. But being owners of F1 is not in our plans.”
Red Bull team principal Christian Horner was of the same mind: “We are an entrant, a team and don’t see the necessity to have a shareholding.”
As for the prospect of F1 going public, Horner said: “At the end of the day it is not down to us.
“It’s down to the shareholders and Bernie. It’s their business, not the teams.”
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