F1 Boss Bernie Ecclestone Could Bid to Buy Back Motor Sport

Formula One boss Bernie Ecclestone, on trial in Germany for alleged bribery, has said he could table a multi-million dollar bid to buy back the sport's commercial rights from F1's largest shareholder CVC Capital Partners.

CVC holds 35% in the motor sport while F1 CEO Ecclestone has a 5% stake.

Ecclestone, who has acknowledged that a conviction in Germany will eject him from the business he built, also hinted that it might be difficult to oust him.

"It is possible, although one or two other companies are interested and I would not enter an auction," the 83-year-old Briton told the Daily Express newspaper.

"Our company has been a very good investment for CVC and it would be a very good investment for me or anyone who owned it," he said.

"You can make money from it, so it would not be a problem for me to find financial backers. I run it now but it wouldn't make any difference. It just means I would have to buy the shares."

"I have a contract with the company, not the shareholders." Ecclestone added. "I have seen some rubbish about being pushed out but CVC have been super-supportive through my troubles."

Recent reports have said that media firms Liberty Global and Discovery Communications are negotiating with F1's backers to plug a $1bn (£583m, €735m) gap in the valuation of the sport. The firms have sought to acquire a 49% stake in the business.

CVC could also float Formula One, according to Bloomberg, but an initial public offering (IPO) is unlikely to happen before the culmination of Ecclestone's German trial.

CVC said in November 2013 that Ecclestone would lose his job if he was found guilty of wrongdoing.