25/07/2005
NEWS STORY
F1 supremo has poured cold water on talk of a Honk Kong buyout of the 75% of Formula One owned by the three banks.
Referring to the story of a buy out by Hutchison Whampoa, which broke over the German Grand Prix weekend, Ecclestone said: "I spoke to Hutchison. They sent a boy to do a man's job. We are not interested in selling to them. We get offers like this every day, but it is not what we want for the future of F1."
Ecclestone has already secured three teams - Ferrari, Red Bull and Jordan - for his new F1, which gets underway in 2008, however the remaining seven teams and five manufacturers are about to announce their vision for the sport's future.
"What I would like is for the teams and the manufacturers to sort themselves out and own the sport so they can then control everything from the commercial rights to the TV, nice and beautiful," Ecclestone told reporters.