F1 Would Need ‘Heavily’ Persuading on Takeover, Dennis Says

McLaren, Formula One’s second-most successful team, and its competitors need to be “heavily persuaded" to back a takeover bid by News Corp. (NWSA) and Exor SpA (EXO) should the buyers plan to move the sport to pay-television, Chairman Ron Dennis said.

The pair of possible bidders is seeking other investors and a formal offer may not be made, they said in a joint statement yesterday.