أرشيف وسم ‘ CVC ’

Posted on Monday, November 21, 2011

Ecclestone eyes Asia floatation for F1 rights

Bernie Ecclestone has revealed that public floatation might be more likely than a sale in the event current owners CVC want to offload formula one's commercial rights. A consortium headed by News Corp has expressed interest in bidding for the lucrative rights, as have the F1 teams in becoming shareholders. But chief executive Ecclestone told the Telegraph: "If I wanted to dispose of the company today I would float it in Singapore or Hong Kong." He added that "it would be better to float the […]

Posted on Friday, November 11, 2011

Texas quiet but F1 'nervous' as corruption saga deepens

Texas officials would not comment when asked if Bernie Ecclestone's implication in the Gerhard Gribkowsky corruption scandal might endanger the 2012 US grand prix. It is feared that, with the F1 chief executive admitting in a German court this week to paying millions to hush the beleaguered banker, the Texas government might rethink contributing to the Circuit of the Americas project. The Austin American Statesman newspaper posed the question to the Texas comptroller's office. "All of these questions would require us to speculate," the office […]

Posted on Thursday, November 10, 2011

Abu Dhabi F1 talks 'more important than race'

Martin Whitmarsh would be happy if the forthcoming negotiations over F1's future results in the teams owning a slice of the sport. With the bitter political battle of 2009 still in memory, many of F1's paddock players are looking nervously towards the expiry next year of the crucial tripartite Concorde Agreement. As ever, everyone wants a bigger slice of the lucrative pie. But this time around, talk of a 'breakaway' series is unlikely to be used as a weapon -- perhaps because the existing agreement […]

Posted on Wednesday, September 21, 2011

Murdoch has lost interest in F1

Bernie Ecclestone thinks News Corp has lost interest in buying formula one. Before the phone-hacking scandal stepped into a high gear earlier this year, the Rupert Murdoch-led media conglomerate and the Ferrari-linked Exor company announced they were looking at "formulating a long-term plan for the development of formula one". But F1 chief executive Bernie Ecclestone, who was never supportive of News/Exor's apparent interest in buying the commercial rights currently owned by CVC, has now revealed that the consortium "has not made a return visit" since […]

Posted on Thursday, September 15, 2011

Whitmarsh confirms teams eyeing F1 stake

Sep.15 (GMM) Martin Whitmarsh has confirmed a move by formula one teams to buy a stake in formula one.

According to The Independent newspaper, the McLaren and FOTA chief confirmed that DC Advisory Partners has been appointed by the teams association ...

Posted on Monday, September 5, 2011

Ecclestone tempted to buy Renault team in 2009

Sep.5 (GMM) Bernie Ecclestone has revealed he was "very tempted" to buy Renault's formula one team when the French carmaker pulled out as an owner.

Actually, the Enstone based team was bought by its current owners Genii Capital, but there are reports...

Posted on Tuesday, August 30, 2011

Investors to 'bombard' CVC over F1 bribery scandal

Aug.30 (GMM) Investors in F1 rights owner CVC are set to ask tough questions at a forthcoming meeting, the Financial Times is reporting.

One "large European investor", concerned about the Gerhard Gribkowsky bribery affair involving Bernie Ecclestone,...

Posted on Thursday, July 28, 2011

CVC investors 'worried' about Ecclestone scandal

Jul.28 (GMM) Investors in F1's owner CVC Capital Partners are worried about the Gerhard Gribkowsky bribery scandal, the Financial Times has reported.

The report said the investors are calling on the private equity group to clarify the affair, with F1...

Posted on Saturday, July 23, 2011

Ecclestone might 'back off' F1 amid scandal - Mosley

Jul.23 (GMM) Bernie Ecclestone appeared at the Nurburgring on Friday, despite suggestions he might skip the journey to Germany for fear of being arrested.

The F1 chief executive is finally admitting he paid $44 million to jailed German banker Gerhard...

Posted on Friday, July 15, 2011

John Howett lined up as potential FOTA figure

Jul.15 (GMM) John Howett has emerged as a surprise candidate for a leading role at the formula one teams association FOTA.

The Briton was president of Toyota's F1 team, and the deputy chairman of the teams alliance, until the Japanese manufacturer qu...

Posted on Tuesday, July 12, 2011

F1 director buys stake in sponsorship agency

Jul.12 (GMM) One of F1's non-executive directors is looking to get involved with formula one sponsorship deals.

The Financial Times reports that global communications services company WPP, headed by founder and boss Sir Martin Sorrell, is taking a mi...

Posted on Saturday, July 9, 2011

Ecclestone admits interest in buying back F1

Jul.9 (GMM) Bernie Ecclestone has admitted he is interested in buying back formula one.

The F1 chief executive currently works for the sport's majority owner CVC, whilst retaining a small percentage of the commercial rights for himself.

It has been ...