Wolff wants ‘long-term perspective’ from F1 owners

Mercedes motorsport boss Toto Wolff says new potential Formula One owners should have “a long-term perspective and vision” for the sport.

Wolff's comments come after F1 commercial rights holder Bernie Ecclestone revealed on Tuesday that three parties have shown an interest in buying into motor racing’s pinnacle.

The 84-year-old supremo also added that he expected a deal to be finalised as early as “this year”.

Asked to react to the news while attending the Camp Beckenbauer global summit in Kitzbühel, Austria, Wolff replied:

“Bernie is always good for a headline. And headlines and controversy are a big part of Formula One that sells.

“As a matter of fact, the owners of the sport are investment companies: CVC has owned the sport for a long time, some of the other investment funds have been in there and made great returns, and it is clear that eventually they would sell the business, because that is not the core of their business.

“For us, we are participating as a team, it’s important that we have a sustainable shareholder with a long-term perspective and vision, and whoever that might be we are looking at with interest.”

US private equity firm CVC Capital Partners has been F1’s major shareholder since 2006 and still holds a 35.5 per cent controlling stake in the sport, while Ecclestone currently has a 5.3 percent share in F1.

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