Formula 1 Sale to Liberty Media

04/09/2016 autobabes_iMag Formula 1 Grand Prix, MotorSport 0

Red Bull Formula One driver Webber drives in the pitlane during the third practice session of the South Korean F1 Grand Prix at the Korea International Circuit in Yeongam — Red Bull Formula One driver Mark Webber of Australia drives in the pitlane during the third practice session of the South Korean F1 Grand Prix at the Korea International Circuit in Yeongam October 13, 2012. REUTERS/Lee Jae-Won/Files

A number of News Media sources are reporting this morning that the sale of Formula 1 to USA company Liberty Media could be finalised this week.

Sources including Sky News and Germany’s Auto Motor und Sport are reporting that the sale could be made official with the first payments totaling $8.5 billion expected as early as Tuesday.

F1 boss Bernie Ecclestone announced the news to trade magazine Auto Motor und Sport at Monza, Italy during the Italian Grand Prix this weekend.

Ecclestone holds 5.3 percent of Formula 1 stock and Ecclestone’s Bambino Trust 8.5 percent, with the largest stakeholders being private equity firm CVC Capital Partners (35.5 percent stake) and U.S. fund manager Waddell & Reed (20.9 percent). .

It is not yet clear if the sale includes a management option or retainer for Ecclestone and the current leadership team, however this is expected to be announced at the time of sale exchange.