Oct.19 (GMM/Inautonews.com) An influential boss has revealed there is “no chance” the formula one teams will buy the sport.

A consortium led by News Corporation expressed interest in buying the commercial rights from CVC earlier this year, and the teams themselves have also been linked with a possible bid.

But according to a report in the Daily Express newspaper, an unnamed but ‘influential’ team boss insists there is “no chance” they will buy F1 because the teams “are struggling to keep themselves afloat”.

The report’s journalist Christian Sylt wrote that rumours of the teams buying F1 could be a negotiating tactic to increase income under the next Concorde Agreement.

The new tactic could be because the current agreement prohibits the teams from threatening to set up a rival championship.