NOVEMBER 12, 2020

Liberty shaping up to sell Formula 1 says Ecclestone

Bernie Ecclestone thinks Liberty Media could be shaping up to sell Formula 1.

Bernie Ecclestone thinks Liberty Media could be shaping up to sell Formula 1.

The American company took over the sport in 2017, having bought it for some $4.6 billion. Ecclestone, who turned 90 recently, was ousted as CEO.

Now headed by Chase Carey but with Stefano Domenicali to take over from 2021, Formula 1 published an unprecedented 23-race calendar this week after recording big financial losses due to the coronavirus crisis.

"The 23 races is supposed to give the impression that business is going well again," Ecclestone told Auto Motor und Sport.

"I would do the same if I wanted to sell."

An unnamed team boss said recently that many teams may go out of business if Formula 1 has to endure another compromised season next year.

"We have made less but we have also made big cost savings," McLaren boss Andreas Seidl said.

"It is probably possible to survive another season like this again, but only if we keep saving at the same level. The budget cap will also help."

Seidl also said the move to drastically different cars for 2022 can be coped with.

"Whether you use the money you have under the budget limit to develop the same car or build a new one makes little difference," said the German.

(GMM)