Formula One has been valued at a staggering $9.1 Billion ahead of it's expected flotation on the Singapore Stock Exchange next month. The news came as CVC Capital partners a majority shareholder in the sport announced that it had sold a 20 percent stake in the sport in preparation for the flotation.
Do I think the flotation is a good idea? Yes and no. Yes because hopefully it means that the team's will get more control of the sport and any decisions that will be made about the sport. And no because it means that Bernie Ecclestone will just get more money, as he owns shares in CVC.
However there is light at the end off the tunnel as it has been suggested that the top team;s in the sport ie RedBull, Ferrari and McLaren will be allowed to nominate team representatives to the new Singapore board.
In other F1 news, the Williams F1 team have announced that they will be ready for this weekend;s Monaco GrandPrix despite the massive fire in their garage in Spain, due to the great support and offers of equipment.
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