A big change could be heading to Formula One (F1) after Bernie Ecclestone revealed that the sport could be sold before the year ends. He added that there are three major contenders currently interested in acquiring major stake in F1.

The 84-year-old F1 Supremo was speaking in a phone interview at the Camp Beckenbauer Global Summit, which is taking place from Oct. 5 to Oct 7, 2015 in Kitzbuhel, Austria. Ecclestone was asked whether F1 could be sold anytime soon and he answered that the racing series could have a new boss by the end of this year.

“Our shareholders are in a position at the moment where they have to lose some, or all, of their shares shortly, that’s the way things are set up for them,” Ecclestone revealed. “There has been a lot of interest and I would say there are three parties at the moment, I’d be surprised if one of them doesn’t buy very shortly.”

CVC Capital Partners, a private equity firm, reportedly owns a majority of F1 stake at 35.5 percent. Ecclestone, on the other hand, has a 5.3 percent stake and his trust has 8.5 percent F1 stake. The other stakeholders include Lehman Brothers, Blackrock, Waddell & Reed, and Norges.

In June, it has been reported that Stephen Ross, the owner of NFL team Miami Dolphins, has teamed up with Qatar investors was interested in buying CVC’s stake. Broadcasting firm Sky and Liberty previously expressed their desire to buy CVC’s stake as well.

Ecclestone in F1

Ecclestone became F1 commercial chief in 1978. He bought his own F1 team and negotiated contracts as well as TV deals for other F1 teams. By 1997, Ecclestone had more control over the sport taking over most rights and eventually turning F1 into a lucrative global franchise. In 2005, he sold his F1 stakes for $2.5 billion (AU$ 3.4 billion) and further sold commercial rights to TV broadcasters.

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