By alley - Jul 4, 2015, 2:35 PM ET

CVC boss denies plans to offload F1

Donald Mackenzie (LEFT), the co-chairman of Formula 1's commercial rights holder CVC Capital Partners, has stated the private equity firm is not interested in selling its majority holding.

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U.S.-Qatari consortium emerged last month as a potential purchaser as a potential purchaser

of CVC's 35.5 percent stake in F1, led by RSE Ventures, an investment company run by Stephen Ross, the owner of the NFL's Miami Dolphins. But on Saturday at the British Grand Prix, Mackenzie has made clear there is no pressure on CVC to sell its equity, nor is it looking to offload

"There is no end date," Mackenzie told the Reuters news agency. "We have 12-year funds, which we have to return the original money. We have already done that. So the pressure's off.

"We like owning it [F1] – we don't want to sell it. There are always some people who'd like to buy it, it's a very good business."

F1 chief executive Bernie Ecclestone confirmed "lots of people have made approaches" to buy F1, but underlined Mackenzie's point he "doesn't want to sell."

Ecclestone has, however, suggested a future alliance with Mackenzie, adding: ""He loves Formula 1, loves the business. He may have to sell his shares. Whether he will invest himself, maybe with me separately, we will have to wait and see."

Originally on AUTOSPORT.com