F1 rights holder CVC Capital Partners has cut its share of the business to 35 per cent after agreeing another deal with US asset management company Waddell & Reed.

The American company was involved in the three-way acquisition of F1 shares last month, when it joined with BlackRock and Norway's Norges Bank Investment Management to relieve CVC of 21 per cent of its holding in a $1.6bn deal, and has now returned, alone, for a second slice of the pie, worth $500m, that sees it increase its interest to 20.9 per cent.

The deals have further strengthened suggestions that CVC is holding back on plans to list F1 on the Singapore stock market, already delayed by concerns over volatile markets and the apparent failure of Facebook's similar IPO..

"Several funds managed by Waddell & Reed Investment Management Company and Ivy Investment Management Company have today agreed to invest a further $500m in a private placement in F1 at $9.1bn enterprise value, increasing their aggregate stake to 20.9%," as statement issued by CVC confirmed.

Elsewhere in the F1 business, former Allsport head David Campbell is understood to have landed an estimated $10m windfall from his ten-month involvement in the sport.

Campbell was appointed by Bernie Ecclestone as successor to Paddy McNally, who previously oversaw the trackside advertising company and Paddock Club hospitality functions, but quit less than a year later when, according to a source quoted by the UK's Independent newspaper, 'Bernie wanted to take the business in a different way'.

The rival Telegraph newspaper has since claimed that Campbell left with a 0.1 per cent stake in the Delta Topco company that oversees all F1 operations, a holding rumoured to be worth $10m, despite his short tenure. The report, however, stresses that there was 'no suggestion that Mr Campbell waited until he had secured the shares until he resigned'.



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