F1 Boss Bernie Ecclestone Considering Buying Back Formula One

Bernie Charles Ecclestone a.k.a. Bernie Ecclestone is the President and CEO of Formula One Management and Formula One Administration. There were several rumours going into the Silverstone race weekend. First there were reports of scrapping the Monza GP in the coming years.

Now Formula One Boss Bernie Ecclestone is planning to buy back Formula One's commercial rights from CVC Capital Partners. They hold a 35 percent share in Formula One, while Bernie Ecclestone owns just five percent shares.

Bernie Ecclestone is currently on trial for charges of bribery, the 83 year old CEO, confirms if found guilty he would have to step down from his post. The British visionary also admits it will be difficult to replace him.

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The Formula One Boss confirms that there are certain companies that have shown interest in buying the shares. Bernie, however, has confirmed he would not enter an auction to bid for the shares.

When Bernie was quizzed about his advancing age, he cheekily replied that he feels the same as he did when he was 40 years old. He has been with Formula One from the very beginning is considered to be one of the pioneers that promoted today's Formula One.

Many believe Bernie Ecclestone wants to buy the CVC shares, so even if he is found guilty for charges of bribery. They could not remove him and he would still remain in-charge of the popular motorsport event. The Britishers, however, explains nobody can remove him as he has an official contract with the Formula One and not individual stakeholders.

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