Formula Ones owners sell stake and call time on Bernie Ecclestone
Equity firm decides F1 needs new head and investment Red Bulls Christian Horner unlikely to qualify as successor
The owners of Formula One, CVC Capital Partners, are to sell a large part of their controlling 35.5% stake in the sport as they face up to life after Bernie Ecclestone. The new investors will have a view on the value of the sport, according to an insider.
Decision makers at the City-based private equity firm have decided that Ecclestone, the sports chief executive and commercial rights holder, must go even if he wins his court case in Munich, where he is fighting bribery charges.
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