Representatives from Ferrari, McLaren, Mercedes and Red Bull are scheduled to meet in Stuttgart a week on Saturday to discuss a range of issues including negotiations over the new Concorde Agreement, various technical regulations including the planned switch to a new 1.6-litre turbo engine from 2013 and, of course, the potential takeover of the sport by a consortium including Rupert Murdoch’s News International and Exor, an investment firm with links to Ferrari.On Tuesday night, News Corp and Exor released a joint statement confirming their intention to approach the sport’s stakeholders regarding a takeover.
CVC, Formula One’s owners, responded by claiming that the sport was currently not for sale but leaving the door open for a bid.
McLaren, Mercedes and Red Bull are likely to grill Ferrari on their intentions with regard to the News Corp-Exor partnership. They may even investigate the possibility of joining the consortium themselves and trying to become joint owners in Formula One.
Former team boss Eddie Jordan said on Wednesday that the News Corp-Exor takeover was “just posturing” and there are many who believe that the teams led as usual by Ferrari are trying to use the threat of a takeover, or a breakaway series, to extract a better deal from F1 chief executive Bernie Ecclestone.
Source: The Telegraph
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