Why F1's flotation plan remains fanciful
Formula 1's mooted stock-market flotation is, Dieter Rencken believes, still some way off. He argues that, until the sport gets its house in order, particularly over future governance, it can't happen
When it comes to the often-promised flotation of Formula 1's commercial rights, this column has consistently refused to camouflage its scepticism, having twice expressed doubts that the listing on Singapore's Stock Exchange would go ahead in the near future, if at all. However, the saga is now giving the 'Case of the missing Concorde' a close run for its money.
First mooted in March last year and confirmed in May, the Initial Public Offering (IPO) was off by August. Then, earlier this year, F1 tsar Bernie Ecclestone – employed as CEO by commercial rights-controlling entity CVC Capital Partners, which holds just 35 per cent of shares – stated the listing was back on the agenda, with flotation scheduled for 'this year'. Two months later the timeframe was 'within 12 months'. Spot the subtle difference?
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