Bernie Ecclestone has revealed that plans to float Formula One on the stock market have been delayed until the current situation in the global markets improves.
F1 was due to float on the Singapore stock market back in June but the proposed floatation failed to get off the ground.
Ecclestone has now revealed that the floatation could go ahead next year if markets improve but wouldn't take place in 2012.
“The float won't happen this year, but next year it will if the markets change,” he told the Daily Telegraph
. “No IPOs have gone through, only Manchester United. I was surprised that they let it go through at the price. First the price and secondly the amount.”
Ecclestone also played down speculation that the ongoing discussions around the future of F1 had played a role in the delay, and said talk that Mercedes were unhappy with the latest Concorde Agreement had no substance.
“Mercedes will be staying,” he said. “They haven't signed the commercial agreement because they haven't had sight of it yet.”