Formula One IPO might go for $10 billion
According to news sources, F1 might soon go on the IPO, as Bernie Ecclestone is making plans to make F1 go public. The price? $10 billion.
Staff Writer
F1 might soon go on an IPO, as the sport's stakeholders are planning on holding a public stock offering that could reveal just how much the Formula One is worth.
According to Sky News, Formula One supremo Bernie Ecclestone is estimating that Formula One's IPO might fetch for $10 billion to be taken from CVC Capital Partner's stake. CVC currently holds 63.4 percent of Formula One since the buy out back in 2005 and 2006.
Bernie Ecclestone, who owns the rights to the sport through CVC, has come up with a plan to offer part of the company's ownership to private investors, along with Ferrari and Red Bull. The plan would effectively make Ferrari and Red Bull directors of Formula One.
According to reports, the plan is part of the latest version of the Concorde Agreement which gorverns the sport between the FIA (sanctioning body), the Formula One Teams Association (FOTA) and the Formula One Group.
Also, F1's IPO might be listed in Singapore, given F1's growth in Asia in recent years. If the move pushes through, some critics think that this could be Bernie's most business savvy move to date.
SOURCES: Sky News, Inside Line, Motor Authority
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