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February 13, 2016 8:53 PM ET

Media

Company Overview of Formula One Administration Limited

Company Overview

Formula One Administration Limited provides information relating to Formula One and holds its commercial rights. It offers Formula One news, email alerts, and feeds, as well as information relating to Formula One races, results, and teams and drivers. The company also operates an online store selling T-shirts, polo shirts, jackets and tracksuits, headwear, footwear, gifts and accessories, watches, wallets, luggage, key rings and lanyards, toys and models, flags and pennants, golf and car accessories, DVDs, photo frames, books, video games, mouse mats, document folders, writing pads, and posters. In addition, it provides race information through mobile phones. Further, Formula One Administrat...

6 Princes Gate

London,  SW7 1QJ

United Kingdom

Founded in 1999

Phone:

44 20 7584 6668

Fax:

44 20 7589 2191

Key Executives for Formula One Administration Limited

Chief Executive Officer
Age: 83
Compensation as of Fiscal Year 2015.

Formula One Administration Limited Key Developments

CVC Capital Not To Sell Formula One

Donald Mackenzie, Chairman of CVC Capital Partners Limited, Formula One Administration Limited's controlling shareholders, flatly denied claims by Ecclestone that CVC Capital must sell up soon, but there are several possible buyers in the mix. Much of the rumour mill has been triggered by Ecclestone, F1’s chief executive, who has said the sport will be sold by the end of 2015. If the sport is indeed for sale, it is only at the right price, having already made CVC billions. “No, we are not obliged to sell,” Mackenzie told Motorsport.com. “It is unlikely that we will be here forever, but we are definitely not obliged to sell. Bernie often says things he doesn’t mean.”

CVC Not Selling Formula One

CVC Capital Partners Limited does not intend to sell Formula One Administration Limited now. Bernie Ecclestone said Donald Mackenzie, Managing Partner of CVC, has now decided he does not want to offload the business, even after three prospective buyers came forward. "There are three solid people knocking on the door and it's just a case of whether Donald wants to let them in," he said. "He has turned down opportunities in the past." He added, "I think he might buy and if he does I would go in with him. I think Donald will try and structure something so he doesn't have to sell at all."

Formula One Expects Change Of Ownership

Formula One Administration Limited's Chief Executive Officer Bernie Ecclestone says he expects the sport to have new ownership by the end of 2015 and that three parties are currently interested. When asked by PA Newswire on October 6, 2015 about those negotiations, the 84-year-old told the Camp Beckenbauer Global Summit in Austria, “There has been a lot of interest and I would say there are three parties at the moment, where I would be surprised if one of them did not buy them (the shares) shortly.” When then asked what kind of timeframe in which he would expect to see a new owner in F1, Ecclestone said, “This year.”

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