CVC not looking to sell F1 yet - Ecclestone

By on Saturday, April 9, 2011

Apr.9 (GMM) Bernie Ecclestone has played down rumours F1's owner CVC is looking to sell its 100 per cent ownership of the sport.

Several sources told the Reuters news agency recently that a strategic review is underway by CVC for a potential "sale, IPO or debt refinancing".

But F1 chief executive Ecclestone told the Daily Mail that while "People are knocking at their door all the time, CVC is not looking for any exit over the next two or three years".

CVC declined to comment.

The 80-year-old also said CVC's $2.9 billion debt "should be cleared by 2014".

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