The money is reported to have been borrowed from RBS in the form of a high interest loan, rather than using CVC investment funds, in order to buy the SLEC, Allsport Management and APM companies and consolidate them into one firm.
A new company called Delta Topco has been established with Lehman Brothers and JP Morgan both shareholders, alongside CVC, the Ecclestone Family Bambino Trust and Bernie Ecclestone himself.
The aim is to pay off the debts and to allow the investors to take money out of the business, securing the cash on the future revenues of the sport. The Formula One group has an agreement with the FIA to exploit the commercial rights of the sport until 2110.
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