Society Investment of the Agnelli family announced yesterday afternoon that the group discussed along with News Corporation, Rupert Murdoch's bid for the business of Formula 1. Exor, the Agnelli, said Sunday that it is possible to "say with certainty whether it will submit an offer." Exor is one of the great European family clusters. The company owns 30.45% of the Fiat automotive group, 60% of the Juventus football team, has 68% of the real estate consultant Cushman & Wakefield or 4.7% of The Economist, among many others assets.
precisely the participation of the Agnelli in Fiat, Fiat and through Ferrari's first Formula 1 team, and raises questions about the possibility of actually a company controlled by the Agnelli can get to buy Formula 1.
The owner of the business of Formula 1 from 2006, directed by Bernie Ecclestone, is the venture capital firm CVC, one of the largest in Europe. The business of Formula 1 assumes revenues of more than 1,000 million euros annually.
CVC was forced in 2006 by the European Commission to dispose of Dorna, the company that owns the marketing rights to purchase World Championship Formula 1. CVC
not report on the possible bid announced by Exor. The Society of Agnelli hung on its website a statement on the possible operation indicating that it was a joint communique with News Corp., Murdoch. Indirectly, the possible offer also boosts the rumors about a possible interest in the operation of former English Prime Minister Jose Maria Aznar, chief executive of News Corp, and his son Alejandro Agag, related to the business of Formula 1.
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