CVC could sell F1 'in a matter of weeks'

© XPB 

CVC Capital Partners could sell its majority share in F1 "in a matter of weeks", according to a Bloomberg report.

According to the report, Goldman Sachs is actively seeking buyers for CVC's 35% stake. With CVC's original investment having been $2billion (£1.5bn) back in 2006, the report claims the sale could now be for as much as $10bn (£7.7bn).

Rupert Murdoch’s Sky Plc, the Qatar Investment Authority and RSE Ventures -  chaired by Miami Dolphins owner Stephen Ross - are again linked with a deal, following a report the latter two were in talks with CVC in June.

RSE are believed to be keen to keep 85-year-old Bernie Ecclestone involved should it complete a deal, with former Williams chairman Adam Parr saying such a move proved successful for CVC.

“CVC’s great strength has been to allow Bernie to get on with managing the company,” Parr told Bloomberg. “Even during the bribery trial, where there was a chance for a coup, nothing changed. They got out the way and have reaped the rewards.”

The report describes F1 as "a spectacularly profitable deal for CVC", saying it has made a 450% return on its original $1bn stake. CVC has sold off minority shareholdings to various investors over the past ten years, while it had to an abort an initial public offering on the Singapore stock exchange in 2012.

2016 technical review: Sun, sea and tech

Chris Amon: A legend's career in pictures

Silbermann says ... Beer can save F1's future

Keep up to date with all the F1 news via Facebook and Twitter