'Liberty Media can't control F1 and won't sell for a profit'
Liberty Media will struggle to sell F1 for a profit. That is the view of Igor Yermilin, president of Russia's motor racing federation. He was asked by Russia's Sportbox publication about rumours that, beset with growing problems and unrest, the American company might be looking to sell.
"The situation is completely expected," Yermilin said.
"The current management wanted to start improving Formula 1 but it turned out to be a lot more difficult.
"They have neither the experience nor the ability to finely control the process, as Bernie Ecclestone did. And all the uncertainties that arise in such a situation generate the rumours," he said.
"All the loud statements from Liberty Media are slowly stopping and now we hear almost nothing from them.
"There are still no new technical regulations. The Concorde Agreement expires soon but that is not very clear, and there are problems with the original promoters who have had grands prix for decades," added Yermilin.
As for the sale rumours, Yermilin said Liberty Media would certainly make a loss.
"It is very difficult to find a buyer who is ready to spend the amount the Americans would need after everything they have spent," he said. "They would need to sell it more expensively than they bought it, but there is hardly anyone who is ready to do that."
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