Auto Motor Und Sport: Formula One Sale To Liberty Media Likely Next Week

(RTTNews) - The sale of Formula One to Liberty Media Corp. (LMCA) could take place next week, German trade magazine Auto Motor und Sport reported Saturday.

Formula One's chief executive Bernie Ecclestone reportedly told the German magazine that Liberty Media will transfer the first of the two tranches of payment in the $8.5 billion deal as early as Tuesday.

Formula One's largest shareholders are private equity firm CVC Capital Partners with a 35.5 percent stake and U.S. fund manager Waddell & Reed with a stake of 20.9 percent. Ecclestone holds 5.3 percent of Formula One, while his Bambino Trust is the owner of an 8.5 percent stake.