Bernie sells control in F1 - Honda Forum / Acura Forum

dodolaje · 11-28-2005, 11:29 PM

Motorsports: Bernie sells control in F1
28 Nov 05 17:11

Formula One chief executive Bernie Ecclestone has sold his controlling stake in the race series - which generates income of over $600m a year - to private equity group CVC Capital Partners

He will remain as chief executive, but it is likely that the participating car manufacturers will now be able to gain access to a larger share of the proceeds. This move forestalls the threat of a split in the series, whereby five teams had decided to launch a rival set of races in 2008.

CVC currently organizes and manages the commercial rights for the Moto GP, and also owns the AA.

Ecclestone said in a statement: "We are delighted to have CVC as a shareholder, whose long-term strategies and vision will provide the stability for teams, promoters and manufacturers. They are knowledgeable about motorsport and make an ideal partner for Formula One." (Financial Times)

http://www.channel4.com/4car/news/ne...?news_id=13486

theflipimage · 11-29-2005, 05:56 AM

YES!!!

This guy has been like a friggin dictator, controlling everything F1 with an iron fist. Hopefully, more of the teams' budgets can go into making the racing more competitive and compelling to watch than into Bernie's pockets...
Not to mention, the guy looks like a FREAK.

prored2000 · 11-29-2005, 06:29 AM

Quote:

Originally Posted by theflipimage

YES!!!

This guy has been like a friggin dictator, controlling everything F1 with an iron fist. Hopefully, more of the teams' budgets can go into making the racing more competitive and compelling to watch than into Bernie's pockets...
Not to mention, the guy looks like a FREAK.

Good, F1 has been in need of a change for a long time now.

dodolaje · 11-29-2005, 07:20 AM

Quote:

Originally Posted by theflipimage

YES!!!

This guy has been like a friggin dictator, controlling everything F1 with an iron fist. Hopefully, more of the teams' budgets can go into making the racing more competitive and compelling to watch than into Bernie's pockets...
Not to mention, the guy looks like a FREAK.

dat dude look like my annoying neighbour

dil2502 · 11-29-2005, 01:43 PM

good to see his ass go....

Kilika2k · 11-29-2005, 03:45 PM

But at least he'll have less part in the business side of the sport, which has been killing it for the past few years. Now... Mr. Mosley needs to be shown to the door. Kinda sucks he won re-election for FIA president when no one ran against him, buncha pansies.

bojacks · 11-29-2005, 04:15 PM

if hes not a major share-holder, they can boot him whenever the hell they feel like it. And really it will be within the year, this dick will descide to resign (forcefully).

ThirdLane · 12-01-2005, 09:35 AM

about damn time bernie. he was the thorn in f1 side that had to be removed. though he still remain in power, his power is reduced since he doesn't own majority stake in f1. I would like to see him reimburse everyone that attended the bull shit he called the US Grand Prix this year. out of his pocket. bastard needs a good swift kick in the nuts. and he had the nerve to dismiss danica patrick, calling the kitchen a woman place not on the track. personally i want to see a female f1 racer.