Formula One may be headed toward an initial public offering worth a staggering $10 billion, according to Bloomberg. CVC Capital Partners Ltd., the majority owner of the Formula One Group, has hired Goldman Sachs Group to look into the motorsports empire's value. The deal would involve selling a portion of CVC's 63.4 percent stake in F1, likely with an IPO in Singapore. The news comes courtesy of an unnamed source familiar with the discussions.

Meanwhile, F1 Supremo Bernie Ecclestone has said that he will remain in his position regardless of CVC's course of action. He is not expected to sell his 5.3-percent stake in the Formula One Group. The CEO is reportedly in talks with current F1 teams over contracts that expire this year, offering big names like Ferrari and Red Bull up to $45 million to stay on. Currently, it's unclear whether any teams have agreed to the new terms, but Ecclestone says those talks won't need to be concluded for the IPO to progress.


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  • 23 Comments
      dnmeicpa
      • 3 Years Ago
      Bernie has cut the heart out of Formula 1's heritage by shilling events to the highest bidder in countries where no one goes to the races but governments are willing to underwrite his audacious demands for sanction fees. Sad, really. It's not a sport anymore, just a cash cow.
      inthelv
      • 3 Years Ago
      Did he just get the bills from Chanel for his daughters and now he needs to raise some extra cash?
      glalli2
      • 3 Years Ago
      cvc please buy bernie out i,m tired of him being a dictator of f1 and puting races in countries that don't care about there people or racing .
      Autoblogist
      • 3 Years Ago
      Formula 1 IPO, I'm not so sure about that? I can only imagine the sh*t they would introduce to the series keep investors happy.
      SloopJohnB
      • 3 Years Ago
      I avoid F1 because of this Nazi.
      jonnybimmer
      • 3 Years Ago
      Yikes. Did you have to pic an image so close to his face AB?
        Nowuries
        • 3 Years Ago
        @jonnybimmer
        ABSOLUTELY!! It freaked me out... he is by far the most unkempt uber-rich person I have ever seen... come on AB, put pics of him at a distance, I think my dog is even having nightmares from this one...
          Drakkon
          • 3 Years Ago
          @Nowuries
          Plus one for 'unkempt'. You must have been a liberal arts major of some kind.
        jonnybimmer
        • 3 Years Ago
        @jonnybimmer
        *pick
      mojobujak
      • 3 Years Ago
      Good for him - he' s living the American Dream !Like old times when it wasn't a disgrace to work and become wealthy!
      mookwell
      • 3 Years Ago
      Bernie...Goldman...? Why am I not surprised.
      granvica
      • 3 Years Ago
      There goes the neighborhood...sad ..sad...sad
      davefromfwb1
      • 3 Years Ago
      Just like everything else in life.....these races and cars started off low budget and after 40-50 years have become too expensive. Theres no competition anymore for smaller companies to come in a start racing these exact types of race with family owned vehicles like back in the old days. I'm really tired of having mega corporations spend billions of dollars every year to promote their brand or team. I hope one day things could get back to small locally owned racing, where people have fun and eat a hot dog and drink a beer and actually know the people who's racing.
        lol_ur_dumb
        • 3 Years Ago
        @davefromfwb1
        You do realize that the reason it's so expensive isn't because of big, bad, evil corporations, but because technology has advanced beyond the "I can fix it with a hammer" stage, right? The simple fact of the matter is that to stay competitive the engineers have to use the newest and best technology. That requires money.
      • 3 Years Ago
      [blocked]
      Aeromax
      • 3 Years Ago
      Gee, I can't wait for F1 races to become MORE expensive, so that all the shareholders can also get their cut!
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