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Teams say IPO rumours lack detail

"I don't think it will benefit us as a team but, again, I have no detail of proposals anyway," he claimed, "But, generally, floatations and change of ownership aren't done for the benefit of a sport. I think what we, as race teams, need to concentrate on is putting a show on here and, clearly, the owners can decide what they do with the asset.

"I don't think it's our business. Our business is that we're a race team primarily - we've got a few other businesses as well now - but being owners of F1 isn't something that's in our plans."

Amid the talk of floatation are rumours that certain teams are being offered favourable terms to sign up to the next edition of the Concorde Agreement, with reports suggesting that CVC needs the current Concorde Agreement to be extended before it can successfully gauge the value of its F1 involvement. The remaining seven FOTA members met during the Australian GP weekend to discuss the rumours, understandably concerned that defectors Ferrari and Red Bull may stand to gain from deals with CVC and Bernie Ecclestone.

"From Red Bull's perspective, we're an entrant, we're a team, we're very happy to be both an entrant and a team and we don't see a necessity or requirement to have a shareholding," RBR's Christian Horner insisted, "At the end of the day, it's not down to us, it's down to the shareholders, it's down to CVC and Bernie. It's their business at the end of the day, not the teams. We're not involved in the detail, [but] I heard that there is potential discussion and it's an interesting concept."

Ferrari principal Stefano Domenicali largely echoed what Horner had to say, but still would not be drawn on the Scuderia's involvement.

"First of all, [there is] nothing to comment on... because you never know what is the reality at the end," he pointed out, "What I can see is that there are ongoing discussions. At the moment, the situation seems to be reasonable, but nothing more than what I'm seeing now."

Related Pictures

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Christian Horner, Team Principal, Red Bull Racing
Martin Whitmarsh, Team Principal, McLaren Mercedes
Stefano Domenicali, Team Principal, Scuderia Ferrari
Jenson Button (GBR), McLaren Mercedes leads the start of the race
27.11.2016 - Race, Roger Federer (SUI) tennis player and Bernie Ecclestone (GBR), President and CEO of FOM
27.11.2016 - Race, Chalerm Yoovidhya, Red Bull Racing and Gerard Berger (AUT)
27.11.2016 - Race, Gerard Berger (AUT)
27.11.2016 - Race, Christian Horner (GBR), Red Bull Racing, Sporting Director
27.11.2016 - Race, Christian Horner (GBR), Red Bull Racing, Sporting Director
27.11.2016 - Race, Gerard Berger (AUT), Michael
27.11.2016 - Bernie Ecclestone (GBR), President and CEO of FOM
27.11.2016 - Bernie Ecclestone (GBR), President and CEO of FOM
27.11.2016 - Bernie Ecclestone (GBR), President and CEO of FOM
26.11.2016 - Qualifying, Bernie Ecclestone (GBR), President and CEO of FOM office
26.11.2016 - Qualifying, Gerard Berger (AUT), Jos Verstappen (NED) and Flavio Briatore (ITA)
26.11.2016 - Qualifying, Gerard Berger (AUT) and Flavio Briatore (ITA)
26.11.2016 - Bernie Ecclestone (GBR), President and CEO of FOM and Flavio Briatore (ITA)
26.11.2016 - Free Practice 3, Bernie Ecclestone (GBR), President and CEO of FOM

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