Home Page Advertising About Us

















Classified Ads powered by CollectionCar.com







Ecclestone May Lose Control of Formula One Racing

Special Collections Reference Desk Break Room
The Crittenden Automotive Library at The Internet Archive The Crittenden Automotive Library on Twitter The Crittenden Automotive Library on Facebook The Crittenden Automotive Library on Tumblr

Topics:  Bernie Ecclestone, Formula 1

Ecclestone May Lose Control of Formula One Racing

VOA Sports
December 6, 2004

Bernie Ecclestone has lost a court case that could end his control of Formula One auto racing.

The High Court in Britain ruled Monday in favor of three banks, which own 75 percent of Formula One's commercial rights. But the banks do not have a majority on any of the key company boards.

The ruling said Ecclestone acted unfairly in preventing the banks from appointing board members for Formula One Holdings. Ecclestone, 73, who was not at the hearing, can appeal.

If he loses, he will have to allow the banks to appoint directors to the board, effectively removing him from outright control of Formula One. He has headed Formula One for 25 years, amassing a fortune estimated at $3.7 billion dollars.

Four of F1's car manufacturers -- Ferrari, BMW, DaimlerChrysler and Renault -- have threatened to form their own racing series in 2008.

Some information for this story provided by AP and AFP.



The Crittenden Automotive Library

Home - About Us - Advertising
Legal Information:  Disclaimers & Terms of Use





To notify The Crittenden Automotive Library of errors, suggest topics, contribute information, make a comment on a page or to ask a question e-mail us.