Formula 1 owners CVC Capital Partners claim the sport is currently not for sale, responding to the interest publicly announced by media group News Corporation on Tuesday.
News Corp. confirmed yesterday its plans for a joint takeover of Formula 1 together with an Italian investment company EXOR. CVC has confirmed it has received a "friendly" approach from James Murdoch's company, and that he understands Formula 1 is currently not for sale. CVC added, however, that it recognized "the quality of EXOR and News Corporation as potential investors."
"CVC can confirm that it has recently received an approach from the EXOR News Corporation consortium," said the company in a statement. "James Murdoch has informed us that the approach is friendly, at a very preliminary stage, and that they acknowledge that Formula 1 is privately owned by CVC and not currently for sale.
"CVC recognizes the quality of EXOR and News Corporation as potential investors, but any investment in Formula 1 will require CVC's agreement and will need to demonstrate that it is in the interest of the sport and its stakeholders, taken as a whole."