Formula 1

Formula One chief executive Bernie Ecclestone has offered to pay €25m ($34m) for the ongoing criminal case against him to be dropped, according to reports.

Azerbaijan’s government has completed a deal to host a new Formula One race in Baku from 2016, with the agreement set to address concerns over the expansion of the motor-racing series’ calendar following this week’s confirmation of a return to Mexico next year.

Mexico is set to return to the Formula One calendar for the first time in 23 years after it was announced that a five-year deal has been agreed for a round of the motor-racing series to be staged in Mexico City from 2015.

Formula One chief executive Bernie Ecclestone has denied recent reports that he is planning a takeover of the motor-racing series’ parent company Delta Topco, while organisers of the sport’s inaugural Russian Grand Prix have maintained this year’s race in Sochi remains on course despite the escalation in tension in eastern Ukraine.

Shareholders in Formula One are set to share a dividend of $1bn (€733.8bn) thanks to a refinancing of the motor racing business, according to the Reuters news agency.

Online sports retailer Kitbag has secured a worldwide rights deal with McLaren to operate the Formula One motor racing team’s official online store and all McLaren branded outlets at grand prix and motorsport events.

Formula One chief executive Bernie Ecclestone has said he is considering making a bid to retake control of the commercial rights to the motor-racing series.

Formula One’s Italian Grand Prix host, the Autodromo Nazionale Monza, has promised circuit upgrades after the sport’s supremo Bernie Ecclestone said the facility is unlikely to remain on the calendar after its race contract expires in 2016.

Speculation surrounding the long-term future of Formula One team Caterham has ended following the announcement that the backmarkers have been taken over by a consortium of Swiss and Middle Eastern investors.

The future of one of Formula One’s most historic races is in doubt after F1 chief executive Bernie Ecclestone said Monza’s Italian Grand Prix is unlikely to remain on the calendar after its contract expires in 2016.

Toto Wolff, executive director of business for Formula One front-runners Mercedes, has begun the process of reducing his interest in rival team Williams by agreeing a deal to sell a stake of his shares in the British outfit to American healthcare entrepreneur Brad Hollinger.

Ferrari president Luca di Montezemolo has asked Formula One chief executive Bernie Ecclestone to bring together the motor-racing series’ key stakeholders to discuss its long-term future, amid fears the sport is neglecting fans and sponsors.

Montreal’s long-running Canadian Grand Prix will retain its place on the Formula One calendar after city authorities announced that an agreement in principal has been reached with the motor-racing series’ chief executive Bernie Ecclestone on a new 10-year race deal.

Formula One motor-racing team McLaren has moved to deny reports than Honda will seek to enhance its forthcoming partnership by acquiring a stake in the British outfit.

Formula One motor racing outfit Caterham has distanced itself from suggestions that the team is up for sale.

Formula One chief executive Bernie Ecclestone has ruled out an imminent return of the French Grand Prix despite recent talks between the Circuit de Nevers Magny-Cours and Formula One Management (FOM).

The French Grand Prix could return to the Formula One calendar in 2015 after Serge Saulnier, chief executive of the Circuit de Nevers Magny-Cours, said the facility is in talks over a race deal with Formula One Management (FOM).

The International Motorsport Federation (FIA) and race promoters have maintained that Formula One’s inaugural Russian Grand Prix remains on course for its October debut in Sochi, despite ongoing concerns about the crisis in Ukraine.