McLaren unfazed by Ecclestone’s F1 flotation

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.”


A sommelier shares her top tips.The dos and don’ts of serving wine – you just might have been doing it all wrong

We know New York real estate is expensive, but this is getting out of hand…You can now stay in an enormous sandcastle on a New York beach

JB Dubois is Head Chef at GIY’s GROW HQ in Waterford City and his wife, Shona Dubois, is the Head of Operations with the organisation.‘We’re showing them how to do their best for the world’

Often I have been out with friends and their kids and they joke that Joan is going to be a politician. I’ve always been impressed by Joan’s ability to pick up pals wherever she goes. She started this when she was very young, and every time we went to a park or a playground she would make a new BFF.Mum's the Word: 'I love how my child can make new friends in a matter of minutes'

More From The Irish Examiner