In the round-up: The Saudi Arabian Public Investment Fund explored a potential buyout of Formula 1 from Liberty media, according to reports
Saudi Arabia explored possible Formula 1 buyout – reports
The Saudi Arabian Public Investment Fund explored a potential buyout of Formula 1 from Liberty Media, according to a report from Bloomberg.
The fund reportedly enquired with Liberty Media about their interest in selling the commercial rights to the world championship, but Formula 1’s owners said they had no intentions of selling at this time.
The Saudi Arabia Public Investment Fund has become increasingly active in the sporting world in recent years, taking over English Premier League football club Newcastle United and has been linked with a potential buyout of World Wrestling Entertainment in recent weeks.
Ecclestone in court over tax fraud charges
Former Formula One Management CEO Bernie Ecclestone appeared in court today as part of proceedings for his upcoming trial over tax fraud.
Ecclestone will face trial in November over a charge of fraud by false representation over failing to declare a bank account of $650m in Singapore to the UK’s HMRC tax office.
The 92-year-old had not yet entered a plea to the charge, with his trial set to begin on November 16th.
Barter progresses to FIA F3 with Campos
Hugh Barter will graduate into the FIA Formula 3 championship this season, remaining with the Campos team with which he raced in the Spanish Formula 4 championship last year.
The 17-year-old will join team mate Christian Mansell with the team’s third driver to be confirmed. Barter finish second in both the Spanish and French F4 championships last year, taking 16 race wins and 10 combined pole positions. He also completed two days of testing in an F3 car with Campos.
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