Formula One float may be back on track

FORMULA One chief executive Bernie Ecclestone has hinted that the sport’s postponed flotation could be relaunched later this year.

In an interview with the official formula1.com website ahead of Sunday’s season-opening race in Australia, Ecclestone said: “Last year I thought that the markets were not ready, but now it is getting more likely that there is an opportunity.”

He added: “In the next three months or so somebody will have to decide yes or no.”

The owners of Formula One, which include private equity firm CVC and investment group BlackRock, had been preparing a $3 billion (£2bn) initial public offering in Singapore last June. However, they decided to hold off as global markets tumbled and investor mood soured after Facebook’s plunge in value following its flotation.