The long-awaited sale of Formula One to an American media group is to be completed next week, according to media reports Sunday. The well-sourced German magazine Auto Motor und Sport said that the sport's veteran commercial ring-master Bernie Ecclestone had confirmed the deal at the Italian Grand Prix. The magazine reported that Ecclestone said Liberty Media will make the first of two payments Tuesday in a deal valued at 8.5 billion dollars (7.6 billion euros, £6.5 billion). If that goes through, according to well-informed paddock sources, current owners CVC Capital Parners, who hold a 35 per cent stake, will leave the sport. Liberty Media Group, which is listed on the New York Stock Exchange, is expected to take control of the company that will run Formula One. Ecclestone, 85, said his future with the business would remain in his hands. He told Auto Motor Und Sport: "I will do what I have always done. What role I play is my decision." Button turned down rival offers — McLaren Jenson Button turned down offers from rival teams before he chose to remain as an ambassador and development driver with McLaren, team chief Ron Dennis has confirmed. The 36-year-old Briton, world champion in 2009, announced Saturday that he was stepping out of his race seat with the team next year to be replaced by Belgian Stoffel Vandoorne. But he could make a comeback in 2018, the team having retained an option on him as a race driver — especially if teammate Fernando Alonso decides not to stay beyond the end of his contract when it expires. "Jenson had offers to drive next year in other teams and declined those offers," said Dennis, who declined to add much detail to the terms under which Button has been retained. "I can't give you straight answers to those questions," he added. "The reality is we'll see where we are in a year. We'll get there and then we'll decide if we're going to exercise it [the option] or not. "But, at that point, Jenson has to step into the situation with all the right motivation, focus and everything. "So, it's not a one-way decision — and what is clear though is, if Jenson's going to drive a Formula One car in 2018, I believe it can only be a McLaren. "I don't think Jenson has a desire to drive anybody else's car." Vandoorne said he had "big shoes to fill" in replacing Button. "Stepping into Jenson's seat is not easy as a young driver but I'm totally up for a challenge," he said. "Both are world champions. I've been in a reserve driver position this year where I've been following them on track from a very different position. "I've been learning a lot from how they push a team forward, how they help with the development, and having all three of us pushing this team forward we could be very successful." Button was strongly linked with a return to his first team Williams which has a vacancy following Brazilian Felipe Massa's announcement Thursday that he intends to retire this year. — Agencies
