LONDON: Formula One's owners said the sport was not “currently for sale” Wednesday after Rupert Murdoch's News Corp. and Italy's Exor confirmed they were considering a joint bid. Private equity company CVC confirmed in a statement it had received an enquiry from News Corp. and Exor, and that the companies had acknowledged Formula One was privately owned and not on the market. “CVC can confirm that it has recently received an approach from the Exor News Corporation consortium,” the statement read. “(News Corp. chief executive) James Murdoch has informed us that the approach is friendly, at a very preliminary stage, and that they acknowledge that Formula 1 is privately owned by CVC and not currently for sale. “CVC recognises the quality of Exor and News Corporation as potential investors, but any investment in Formula 1 will require CVC's agreement and will need to demonstrate that it is in the interest of the sport and its stakeholders, taken as a whole.” Formula One supremo Bernie Ecclestone, who serves CVC as chief executive of the sport, said late Tuesday CVC had no interest in selling Formula One, stressing they were committed to the sport for the “long haul.” “Personally, I know CVC don't want to sell, so it's going to be a bit difficult. I can see CVC in for the long haul, absolutely, 100 percent,” Ecclestone said. Ecclestone had dismissed previous reports of Murdoch's interest in Formula One as “rubbish” and said any offer would need to be “ridiculous.”
