CVC Capital Partners not Interested in Selling F1 Stake
By iSportconnect | July 6, 2015
CVC Capital Partners, Formula One’s commercial rights holder, has no intention of selling its controlling stake in the sport.
At the British Grand Prix over the weekend, Co-chairman Donald Mackenzie denied reports that they had a deadline to sell their stake and stated that they weren’t interested in a sale.
However Mackenzie was not willing to comment on the reports that RSE Ventures and Qatar were joining forces to buy CVC’s 35.5% stake for around £5 billion.
When asked by Reuters at the British Grand Prix if CVC had a deadline to sell its stake, Mackenzie replied: “No, we don’t. There is no end date. We have 12-year funds, which we have to return the original money. We have already done that. So the pressure’s off. We like owning it [F1], we don’t want to sell it. There are always some people who’d like to buy it, it’s a very good business.”