Ecclestone denies News Corp’s F1 takeover bid

April 20th, 2011 - 12:42 pm ICT by ANI  

London, Apr 20(ANI): Bernie Ecclestone has insisted that Formula One is not for sale in the wake of reports that multi-billionaire tycoon Rupert Murdoch’s media group, News Corporation, might be preparing a bid for the sport.

“It’s rubbish. The sport is not for sale,” The Telegraph quoted Ecclestone, as saying.

It was earlier reported that talks “about forming a consortium that would seek to acquire control” of Formula One were at an “embryonic” stage.

“News Corp has been in preliminary talks in recent weeks with people connected to at least one of F1’s big car manufacturers, and with Carlos Slim, the Mexican billionaire who is the world’s richest man,” the report had claimed.

It also said that JP Morgan, a former shareholder in F1, was advising Murdoch’s New York-based company over any potential deal. (ANI)

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