Rupert Murdoch’s News Corporation, the owner of FOX, is bidding to take a stake in Formula One, according to the company’s UK TV subsidiary, Sky News.
The broadcaster’s City Editor Mark Kleinman gave some details of the bid this evening, saying that the company wanted to form a consortium, and that Carlos Slim of Telmex has been approached about joining, along with “people connected to at least one of F1′s big car manufacturers.”
Kleinman said that it may decide not to attempt to acquire a direct stake in F1′s owner but instead bid for the broadcast rights and that in any case discussions were at an early stage.
He also said: “CVC has said repeatedly it has no firm plans to sell F1, but of course private equity firms always sell on their investments at some point, “ adding that “News Corp’s exploration of ways in which it could be a part-owner of F1 while exploiting its worldwide appeal reflects the company’s interest in accessing the one global sports franchise that has so far eluded it.”
In the last few minutes Bernie Ecclestone has denied the story, telling the Daily Telegraph: “It’s rubbish. The sport is not for sale.”
Crucially, Jean Todt recently made it clear that the FIA will have a right of veto on any sale.
The identity of the “manufacturer” is intriguing, and it’s worth noting that Carlos Slim protege Sergio Perez is a Ferrari young driver – and that Todt now has a lukewarm relationship with Maranello, to say the least
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