Vital Login
Social Login

Other Sites

Network Navigation

Vital Partners

'If It's F1, It's Vital'

News Corp confirm interest in F1

Two weeks ago the first report's of Rupert Murdoch's News Corp plans to purchase Formula One began to surface.

At that stage reports suggested that News Corporation had held preliminary talks with potential partners about forming a consortium to buy Formula One.

Mexican billionaire Carlos Slim (who sponsors the Sauber team) was linked, as too was a major car manufacturer, which had been reported to be Ferrari.

While it was suggested that talks had been held with potential partners, they had not made an official approach to F1's owner CVC Capital Partners at this stage, while Formula One supremo Bernie Ecclestone, was also quick to distance himself from the suggestions that the sport was for sale: 'It's rubbish. The sport is not for sale. And, anyway, we would not sell to a media company because it would restrict the ability to negotiate with other broadcasters,'

But any thoughts that those comments would bring an end to the story were dashed yesterday, when News Corporation and Italian investment firm Exor (who have close links to Fiat, who of course are Ferrari's parent company) officially announced their intention to hold talks with Formula One stakeholders.

'EXOR, one of Europe's largest listed investment companies, and News Corporation, the global media group, confirm that they are in the early stages of exploring the possibility of creating a consortium with a view to formulating a long-term plan for the development of Formula 1 in the interests of the participants and the fans.

'Over the coming weeks and months, EXOR and News Corporation will approach potential minority partners and key stakeholders in the sport. There can be no certainty that this will lead to an approach to Formula 1ís current owners.'
a joint Exor and News Corp statement was quoted by Autosport Magazine.

With the announcement it is now clear that this movement is gathering momentum, while F1's owner CVC Capital Partners has now also revealed that they have indeed received an approach from the Exor/News Corporation consortium regarding the ownership of Formula One.

'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 recognises 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.'
CVC Capital Partners told the BBC.

This potential deal will prove to be unpopular with a lot of Formula One supporters. Many of which will not like the thought of a Rupert Murdoch/Sky Sports takeover or investment package.

One of a number of reasons behind those thoughts will be that if Murdoch/Sky have any control over F1, will a move to pay-TV be a formality in the future?

Currently the The Concorde Agreement which all 12 teams have agreed too states that the sport will be shown on free-to-air television wherever possible, preventing an exclusive rights package for Sky.

Another reason why it would prove unpopular would be Exor's links to Ferrari, with the potential to have a company with a financial interest in both the sport and a team, something that is not allowed under the current Concorde Agreement.

However the Concorde Agreement is set for a renewal and if the teams change their minds then that could begin to pave the way for F1 to move away from the BBC in 2013 to Sky (and other pay-tv broadcasters around the World) or indeed alter the rules regarding a team owner having a controlling interest in the sport.








Join Vital F1

It's easy to join up and join in on VitalF1.com, simply click the link and enjoy getting involved!

If you are already a member of Vital Football, your logins will automatically work on VitalF1.com!

The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Wednesday May 4 2011

Time: 1:00PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Vital F1 Articles

Blog: Abu Dhabi GP Report (Sunday November 23 2014)

2014 - Abu Dhabi - Race (Sunday November 23 2014)

Blog: Abu Dhabi Qualifying (Saturday November 22 2014)

Red Bull DQ'd from Abu Dhabi Qualifying (Saturday November 22 2014)

2014 - Abu Dhabi - Qualifying (Saturday November 22 2014)

2014 - Abu Dhabi - FP3 (Saturday November 22 2014)

2014 - Abu Dhabi - FP2 (Friday November 21 2014)

2014 - Abu Dhabi - FP1 (Friday November 21 2014)

Audio: Hamilton v Rosberg - The Decider (Friday November 21 2014)

Caterham receive helping hand from Bernie (Thursday November 20 2014)

Grosjean to remain with Lotus (Thursday November 20 2014)

Bianchi 'out of coma' (Wednesday November 19 2014)

McLaren delay line-up announcement (Wednesday November 19 2014)

Ecclestone to hold talks with teams (Wednesday November 19 2014)

Force India hands Palmer chance to impress (Wednesday November 19 2014)

Chilton to join Caterham? (Tuesday November 18 2014)

Carlos Sainz Jr to test for Red Bull (Tuesday November 18 2014)

Kobayashi retains seat for Abu Dhabi (Monday November 17 2014)

Who will win in Abu Dhabi? (Monday November 17 2014)

Caterham will return in Abu Dhabi (Friday November 14 2014)

Wolff plays down engine war fears (Friday November 14 2014)

Honda to debut new engine (Friday November 14 2014)

Ericsson terminates Caterham deal (Thursday November 13 2014)

Button not chasing big bucks (Wednesday November 12 2014)

Horner threatens engine war (Wednesday November 12 2014)

Alonso to sign £25million deal (Tuesday November 11 2014)

Record setting day for Mercedes (Monday November 10 2014)

Hamilton reflective (Monday November 10 2014)

Fantastic weekend for Rosberg (Monday November 10 2014)

Blog: Brazilian GP Report (Monday November 10 2014)

2014 - Brazil - Race (Sunday November 9 2014)

Blog: Interlagos Qualifying (Sunday November 9 2014)

2014 - Brazil - Qualifying (Saturday November 8 2014)

2014 - Brazil - FP3 (Saturday November 8 2014)

2014 - Brazil - FP2 (Friday November 7 2014)

Marussia cease trading (Friday November 7 2014)

2014 - Brazil - FP1 (Friday November 7 2014)

Button on the brink (Friday November 7 2014)

All change at Sauber as Nasr joins (Thursday November 6 2014)

Caterham aiming for Abu Dhabi return (Thursday November 6 2014)

Formula One's financial crisis (Wednesday November 5 2014)

Blog: The perils of the Party of Five (Tuesday November 4 2014)

Ericsson makes Sauber switch (Tuesday November 4 2014)

Blog: United States GP Report (Tuesday November 4 2014)

Alonso edges closer to McLaren return (Monday November 3 2014)

Hamilton proud to hold British record (Monday November 3 2014)

Perez handed seven-place grid drop (Monday November 3 2014)

Rosberg not giving up on title quest (Monday November 3 2014)

Vergne demoted to tenth (Monday November 3 2014)

Who will win in Brazil? (Monday November 3 2014)

2014 - United States - Race (Sunday November 2 2014)

Blog: Austin Qualifying (Sunday November 2 2014)

2014 - United States - Qualifying (Saturday November 1 2014)

2014 - United States - FP3 (Saturday November 1 2014)

2014 - United States - FP2 (Friday October 31 2014)

2014 - United States - FP1 (Friday October 31 2014)

FIA question 'economic balance' in F1 (Friday October 31 2014)

Vettel prepared for engine penalty (Thursday October 30 2014)

Gap is too big in F1 says Fernandes (Thursday October 30 2014)

Button would welcome Alonso challenge (Wednesday October 29 2014)

Switch to Mercedes good for Lotus (Wednesday October 29 2014)

Marussia could be saved (Tuesday October 28 2014)

Ferrari and Mercedes at loggerheads (Monday October 27 2014)

Marussia go into administration (Monday October 27 2014)

Who will win the US Grand Prix? (Monday October 27 2014)

Five-year plan for Haas? Survival (Friday October 24 2014)

Caterham saga: Fernandes hits out (Friday October 24 2014)

Caterham on brink of turmoil (Thursday October 23 2014)

Sam Michael to quit F1 (Thursday October 23 2014)

Hulkenberg to stay with Force India (Tuesday October 21 2014)

Pirelli change selection for Brazil (Tuesday October 21 2014)

Blog: Mercedes reaps what it sows (Monday October 20 2014)

Vettel set to pay the penalty (Friday October 17 2014)

Caterham remain bullish (Friday October 17 2014)

Rosberg can swing momentum (Thursday October 16 2014)

Lotus dump Renault for Mercedes (Wednesday October 15 2014)

Button does not need to prove himself (Wednesday October 15 2014)

Hamilton contract talks on hold (Tuesday October 14 2014)

Mercedes win F1 constructors title (Tuesday October 14 2014)

Bianchi will not give up (Tuesday October 14 2014)

Pirelli make final selections (Monday October 13 2014)

Blog: Russian GP Report (Monday October 13 2014)

2014 - Russia - Race (Sunday October 12 2014)

Blog: Sochi Qualifying (Saturday October 11 2014)

Archived Vital F1 Articles

List All Vital F1 Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. Red5 1029
2. DJ 907
3. The Fear 771
4. Villaininthemerde 612
5. johnkelv 571
6. Druss_the_Legend 528
7. Push The Button 441
8. col8 334
9. The Intimidator 155
10. __villa__ 145

Current Site Poll (view all polls)

Where will Jenson Button be in 2015
In F1 with McLaren 0%
In F1 but not with McLaren 0%
WEC 100%
Triathlon's 0%
On a beach 0%