Ecclestone: Formula One not for sale

BERNIE ECCLESTONE has dismissed speculation of a potential takeover of Formula One by a consortium led by News Corporation.

It has been suggested global media giant News Corp has held talks with the world’s richest man, Mexican billionaire Carlos Slim, and a leading manufacturer, rumoured to be Ferrari, with regard to the possibility of making a bid for F1.

However, Ecclestone, the chief executive of owners and commercial rights holders, venture capital company CVC, claims the story is without foundation.

“It is all rubbish,” Ecclestone said.

“Formula One is not for sale. And, anyway, we would not sell to a media company because it would restrict the ability to negotiate with other broadcasters.”

Ecclestone, though, did sell to a media company, the Kirch Group in Germany, only for the deal to fall through.

Ecclestone claims any offer now would have to be “ridiculous”, but the combined might of News Corp, Slim, who is reputed to be worth around £45billion, and Ferrari, could comfortably make a bid.

Any takeover, however, would be subject to a new Concorde Agreement being in place.

That is a commercial arrangement involving the teams, CVC and the FIA that binds all parties to the sport, with the current deal expiring at the end of next year.

Meanwhile Felipe Massa believes Formula One’s brave new world is still far from clear following a confusing weekend in China.

The varying strategies employed by the teams in Shanghai, and with the Pirelli tyres conjuring up numerous variables, led to a number of different leaders, including Massa in his Ferrari at one stage.

In the end Massa was forced to settle for sixth place behind three-stopper Lewis Hamilton, Sebastian Vettel, who made two stops, and Mark Webber who battled his way up from 18th on a three-stop plan.

“People have pointed out Webber drove a fantastic race, but you have to accept that because he failed to get further than Q1 on Saturday he had plenty of new tyres,” said Massa.

“Everyone would want to be in that position, but you must remember he has a very good car, the quickest of the year so far.

“Nevertheless, we are always learning at this stage of the season and we should analyse everything very carefully to see if we should adopt a different approach.”