Bernie Ecclestone has ruled out cutting a collective commercial deal with Formula One’s 12 racing teams, amid fears from some that the sport’s 81-year-old ringmaster has offered two teams stakes in a new F1 structure before a possible flotation.
Seven F1 teams met on Sunday in Australia to discuss how to respond to leaked documents showing that Mr Ecclestone and CVC, the private equity group that has owned F1’s commercial rights since 2005, asked Goldman Sachs to help place some of its F1 shares.
According to people familiar with the discussions, Mr Ecclestone and CVC have struck separate commercial deals with Ferrari and Red Bull as part of their obligation to divide F1’s revenues with all 12 teams until the end of 2020.
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