Bernie 'looking' into buying F1

Saturday 5th July 2014

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Bernie 'looking' into buying F1

Bernie 'looking' into buying F1

Bernie Ecclestone could one day be back in charge of Formula 1 after revealing that he's "looking" into buying the sport.

The 83-year-old built Formula 1 into what it is today before selling it to private equity firm CVC.

Despite the sale, Ecclestone remained the man in charge until he was forced to step down earlier this year in the build-up to his bribery trial in Germany.

However, he may one day be back in power after revealing that he has held talks with CVC's Donald Mackenzie.

"I have spoken to Donald Mackenzie and I am looking at it," Ecclestone told the Daily Express.

"It is possible, although one or two other companies are interested and I would not enter an auction. Age does not make it impossible. I feel no different to how I did 40 years ago.

"I have a contract with the company, not the shareholders. I have seen some rubbish about being pushed out but there is no-one lined up to take over."

And although praising CVC for all they have done for Formula 1, the F1 supremo says if he bought back the business he would not run it like a public company.

"Our company has been a very good investment for CVC and it would be a very good investment for me or anyone who owned it," he said.

"You can make money from it, so it would not be a problem for me to find financial backers. I run it now, but it wouldn't make any difference. It just means I would have to buy the shares. I think the company is a good solid business and a good investment.

"The past couple of years we have been running the business as if CVC were going to float the company.

"So we have run it like a public company, which has limitations. If I bought it I wouldn't think of that. I have always been used to doing things on the spot and, with a public company, it is always about board decisions.

"It can be restrictive, although I must say CVC have been super, they don't tell me how to run it. They have been super-supportive with all my troubles."

Ecclestone's future, though, is still up in the air pending the outcome of his bribery trial.

He added: "I have two jobs now. One the day job and the other, what I hope is a part-time job in Munich.

"I know that the prisons are full of people who say they are innocent and this is why I am attending in Germany every week because I know I am innocent and I want to clear my name.

"I don't know what the outcome will be but there is no point in worrying. I would rather that bad things don't happen, I would like to think that I can continue to do what I do as long as I am capable.

"Getting locked up would concern me much more than losing control of F1."

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