Ecclestone says no takeover talks with Ferrari

By on Monday, May 2, 2011

May 2 (GMM) Bernie Ecclestone has denied speaking with officials of the Fiat/Ferrari group about a potential takeover of formula one.

Amid the reports of News Corporation and Carlos Slim's interest in buying the commercial rights from CVC, it was speculated that Ferrari and its Italian carmaker parent might also be involved in the takeover consortium.

F1 chief executive Ecclestone was asked about the rumours, including Ferrari's rumoured involvement, by the German newspaper Die Welt.

"I can assure you that none of those you have referred to as allegedly interested have spoken on this matter with CVC or with me," answered the 80-year-old.

"CVC has no intention of selling formula one," added Ecclestone.

He said the private equity company is completely happy with its investment.

"We haven't had races as exciting as this for a long time," he insisted. "We have contracts for grands prix in twenty countries and six other countries who want a race.

"Formula one is stronger, more stable and successful than ever before," said Ecclestone.

He also rubbished rumours he is preparing to retire.

"I don't know where that came from but it's true that I don't work for the money. In the past few decades with all the people who have supported me we have achieved a lot and it still gives me a lot of joy. It's my life," added Ecclestone.

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