LONDON // Bernie Ecclestone insists that Formula One is not for sale, brushing off reports that Rupert Murdoch's News Corp is interested in taking over the sport.
Sky News reported that News Corp, which owns a 39 per cent stake in the broadcaster's parent group BSkyB, has begun talks with the Mexican telecom magnate Carlos Slim about forming a consortium to buy control of F1 from the private equity firm CVC Capital.
But Ecclestone, 80, who runs F1 on behalf of CVC, reiterated his intention to stay in control for some time yet.
"It is all rubbish," Ecclestone told British newspaper The Times. "Formula One is not for sale. And anyway, we would not sell to a media company because it would restrict the ability to negotiate with other broadcasters."
The BBC has an agreement to broadcast the F1 world championship in Britain until 2013.
Satellite broadcaster BSkyB, which runs Sky News and is subject to a full takeover bid by News Corp, could choose to bid for the broadcast rights rather than full control of the sport.
Unlike events like the Wimbledon tennis tournament and football's World Cup, Formula One is not reserved for free-to-air broadcast in Britain by government legislation.
Funds should not be a problem if News Corp does pursue the sport.
BSkyB paid £1.623 billion (Dh9.76bn) for the English Premier League broadcast rights from 2010 to 2013.
