£500 million F1 car collection set for SALE

Former F1 supremo Bernie Ecclestone is set to sell his insane race car collection for an estimated £500 million.

The British business magnate founded the Formula One Group in 1987 and controlled the commercial rights to the sport until 2017.

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Ecclestone was a leading figure in the growth of F1, notably negotiating television contracts and helping the calendar expand into new territories such as China, Russia and the Middle East.

However, Liberty Media took over in 2017, thus displacing Ecclestone from his role as chief executive. Ecclestone does still continue to attend races, however, and can sometimes be spotted on the grid before a race.

Bernie Ecclestone to sell historic F1 car collection

Alongside his F1 career, Ecclestone also boasts an extensive historic car collection, which he will be parting ways with via a private treaty sale.

The 94-year-old has accumulated race cars since the 1950s, with his collection of 69 historic automobiles including Ferraris such as an ex-Michael Schumacher F2002 and Alberto Ascari’s 1951 Italian Grand Prix-winning 375.

Ecclestone’s collection is reportedly estimated to be worth £500 million, however, the final transaction values will remain out of the public domain.

“I have been collecting these cars for more than 50 years, and I have only ever bought the best of any example,” Ecclestone said.

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“I love all of my cars, but the time has come for me to start thinking about what will happen to them should I no longer be here, and that is why I have decided to sell them.

“After collecting and owning them for so long, I would like to know where they have gone, and not leave them for my wife to deal with should I not be around.”

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