F1 CEO Bernie Ecclestone says that until CVC Capital Partners decides what it wants to do in terms of its stake in F1, "the sport is effectively in limbo," according to PITPASS. The private equity firm bought F1 in '06. Since then, CVC, which has sold off some of its holding but still retains a 35% share, "has raked in" around $4.4B in dividends, while its remaining stake is said to be worth around $3B. Now Ecclestone is calling on the private equity firm "to make its plans public, admitting that the uncertainty is holding the sport back." Ecclestone: "I'm hoping that (CVC co-Chair) Donald Mackenzie will decide if he wants to dispose of the company or not. Because if not we will be running it perhaps in a different way than we do today and we can make a lot of improvements" (PITPASS, 3/15). GRAND PRIX reported Ecclestone, 85, has been "openly critical of the hands-off approach" of FIA President Jean Todt, and the fact the competing teams and manufacturers "cannot agree a way forward." Ecclestone: "I have been running things with my hands tied behind my back a little bit. I'm still running the company like a public company. There are lots of things I would love to do which I haven't done because CVC has been very clear that the company has to be run like a public company" (GRAND PRIX, 3/15).
