The rumours that CVC will buy off the threat of a mutiny of the small teams (unlikely though that might be because their few sponsors would not be keen to pay for non-appearances) seem pretty far-fetched, but this would be characteristically short-termist of CVC Capital Partners. A one-off payment is not going to make the problems go away, nor for that matter will it stop the inherent value of the sport continuing on its downward path. Any intelligent potential buyer would see this for what it is: wallpapering over cracks, trying to ignore the crumbling walls.
The only way for CVC to solve the problem in a sustainable way is to accept that they have sweated this asset too much and must now put some value back in, on a long term basis. And they must make changes that are required for the sport to produce more revenues. Once they have created a more sensible structure then value will flow back in and they will have something to sell. And, incidentally, they will improve their current image of being successful but unspeakably ruthless, which is not an image that their backers will necessarily want to be associated with.
The stories may be circulating for other reasons because CVC stepping in would be a very damaging situation for Bernie Ecclestone because his job is to fix F1 problems and if he can’t do that, the folk at CVC may start asking if a change might be better for all concerned. Obviously one can see all kinds of reasons why all kinds of people might be promoting such a story – on all sides.
The FIA has a role to play as well, because it needs to find ways to get a budget cap in place for all the teams and not just sit there hoping that the walls will fall down. Doing nothing is not acceptable and if the FIA tries to argue that certain agreements stop it acting as it should do, then those agreements should be looked at by the competition authorities in Europe because they would clearly indicate a governance issue when considered in relation to the deal agreed with the EU. If the current leadership won’t do it, it presents a good opportunity for someone else to build support among the clubs. There might also be some value in a discussion about whether there is a need for a new FISA-like entity, headed by someone who could have more time for motorsport and less focus on trying to get a big job at the United Nations.