Vital F1 | News Corp confirm interest in F1
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

2017 Abu Dhabi GP - FP2 (Friday November 24 2017)

2017 Abu Dhabi GP - FP1 (Friday November 24 2017)

Expanded calendar for Formula 2 and GP3 (Friday November 24 2017)

Formula One going soft (Thursday November 23 2017)

Blog: Abu Dhabi Preview (Thursday November 23 2017)

Force India name change hits the buffers (Wednesday November 22 2017)

Who will win in Abu Dhabi? (Monday November 20 2017)

Blog: Brazilian GP Report (Tuesday November 14 2017)

2017 Brazil GP - Race (Monday November 13 2017)

Blog: Interlagos Qualifying (Sunday November 12 2017)

2017 Brazil GP - Qualifying (Saturday November 11 2017)

2017 Brazil GP - FP3 (Saturday November 11 2017)

2017 Brazil GP - FP2 (Friday November 10 2017)

2017 Brazil GP - FP1 (Friday November 10 2017)

Blog: Interlagos Preview (Thursday November 9 2017)

Massa announces second retirement (Wednesday November 8 2017)

Hamilton only has eyes for Formula One (Tuesday November 7 2017)

Who will win in Brazil? (Monday November 6 2017)

Hamilton stamping his name into history (Thursday November 2 2017)

Lauda confused by aggressive Vettel (Thursday November 2 2017)

Alonso set for Daytona (Tuesday October 31 2017)

Blog: Mexican GP Report (Monday October 30 2017)

2017 Mexico GP - Race (Sunday October 29 2017)

LEWIS HAMILTON 4-TIME WORLD CHAMPION (Sunday October 29 2017)

Blog: Mexico City Qualifying (Sunday October 29 2017)

2017 Mexico GP - Qualifying (Saturday October 28 2017)

2017 Mexico GP - FP3 (Saturday October 28 2017)

2017 Mexico GP - FP2 (Saturday October 28 2017)

2017 Mexico GP - FP1 (Saturday October 28 2017)

Ricciardo to join Mercedes? (Thursday October 26 2017)

Blog: Mexico City Preview (Thursday October 26 2017)

Shock as Verstappen signs new deal (Wednesday October 25 2017)

Alonso agrees new partnership deal (Tuesday October 24 2017)

Who will win the Mexico Grand Prix? (Tuesday October 24 2017)

Blog: US GP Report (Tuesday October 24 2017)

2017 United States GP - Race (Monday October 23 2017)

Blog: Austin Qualifying (Sunday October 22 2017)

2017 United States GP - Qualifying (Sunday October 22 2017)

2017 United States GP - FP3 (Saturday October 21 2017)

2017 United States GP - FP2 (Saturday October 21 2017)

2017 United States GP - FP1 (Friday October 20 2017)

Blog: Austin Preview (Thursday October 19 2017)

Who will win in the USA? (Thursday October 19 2017)

Sauber to make huge step forward in 2018 (Wednesday October 18 2017)

Formula One wants race in Netherlands (Tuesday October 17 2017)

Toro Rosso name fourth driver of 2017 (Monday October 16 2017)

Palmer F1 career ends? (Tuesday October 10 2017)

Blog: Japanese GP Report (Monday October 9 2017)

2017 Japan GP - Race (Sunday October 8 2017)

Blog: Suzuka Qualifying (Saturday October 7 2017)

2017 Japan GP - Qualifying (Saturday October 7 2017)

2017 Japan GP - FP3 (Saturday October 7 2017)

2017 Japan GP - FP2 (Friday October 6 2017)

2017 Japan GP - FP1 (Friday October 6 2017)

Blog: Suzuka Preview (Thursday October 5 2017)

Who will win in Japan? (Tuesday October 3 2017)

More woe for Ferrari (Monday October 2 2017)

2017 Malaysia GP - Race (Sunday October 1 2017)

Blog: Sepang Qualifying (Saturday September 30 2017)

2017 Malaysia GP - Qualifying (Saturday September 30 2017)

2017 Malaysia GP - FP3 (Saturday September 30 2017)

2017 Malaysia GP - FP2 (Friday September 29 2017)

2017 Malaysia GP - FP1 (Friday September 29 2017)

Blog: Sepang Preview (Thursday September 28 2017)

New deals for Mercedes and Force India (Wednesday September 27 2017)

Leclerc lands F1 seat (Tuesday September 26 2017)

Who will win in Malaysia? (Monday September 25 2017)

A messy McLaren Honda divorce (Thursday September 21 2017)

Blog: Singapore GP Report (Monday September 18 2017)

2017 Singapore GP Race (Sunday September 17 2017)

Blog: Singapore Qualifying (Saturday September 16 2017)

2017 Singapore GP - Qualifying (Saturday September 16 2017)

2017 Singapore GP - FP3 (Saturday September 16 2017)

2017 Singapore GP - FP2 (Friday September 15 2017)

2017 Singapore GP - FP1 (Friday September 15 2017)

Red Bull duo looking forward to Singapore (Thursday September 14 2017)

Blog: Singapore Preview (Wednesday September 13 2017)

Who will win in Singapore? (Monday September 11 2017)

Ferrari embarrassed by home soil defeat (Thursday September 7 2017)

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. DJ 1184
2. Red5 1129
3. The Fear 773
4. Villaininthemerde 612
5. johnkelv 601
6. Druss_the_Legend 596
7. Push The Button 513
8. col8 334
9. The Intimidator 221
10. VanGisbergen2013 181

Current Site Poll (view all polls)

Who will win in Abu Dhabi?
Vettel 23%
Hamilton 42%
Verstappen 14%
Raikkonen 7%
Bottas 0%
Ricciardo 7%
Someone else 7%