Adapted from 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".
The 80-year-old also said CVC's $2.9 billion debt "should be cleared by 2014". CVC declined to comment.
Bernie Ecclestone also confirmed that F1's advertising supremo Paddy McNally is retiring.
Late last year, the sport's chief executive Ecclestone appointed David Campbell to "help" 72-year-old McNally with running the trackside advertising company Allsport and the Paddock Club.
"Paddy thinks someone younger should take over. He is one of the founding fathers of the modern grand prix set-up," confirmed 80-year-old Ecclestone to the newspaper.
Paddy McNally is also one of the richest men in Britain.
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".
The 80-year-old also said CVC's $2.9 billion debt "should be cleared by 2014". CVC declined to comment.
Bernie Ecclestone also confirmed that F1's advertising supremo Paddy McNally is retiring.
Late last year, the sport's chief executive Ecclestone appointed David Campbell to "help" 72-year-old McNally with running the trackside advertising company Allsport and the Paddock Club.
"Paddy thinks someone younger should take over. He is one of the founding fathers of the modern grand prix set-up," confirmed 80-year-old Ecclestone to the newspaper.
Paddy McNally is also one of the richest men in Britain.