Formula One Management
Formula One chief executive Bernie Ecclestone has offered advance revenue payments to Sauber, Force India and Lotus to aid cash flow problems at the motor racing teams ahead of the start of the 2015 season next week.
Manor Grand Prix Racing’s hopes of returning to the Formula One grid have been boosted by the news that its creditors have approved taking the company out of administration and transferring it back to directors.
Marussia’s hopes of returning to the grid for the Formula One motor-racing championship in 2015 look doomed after rivals voted against the team’s plans to use last year’s car.
Formula One chief executive Bernie Ecclestone has rejected speculation concerning his future at the helm of the motor racing series and has revealed any ambitions from Qatar to join the calendar are likely to be curtailed by the terms of the sport’s existing race contract with Bahrain.
Margrethe Vestager, the European Commissioner for Competition, will “look into” allegations by British politician Anneliese Dodds that the FIA, motorsport’s global governing body, may have breached an anti-trust settlement by holding a stake in the Formula One world championship, according to Forbes.
Qatar is in talks to host a Formula One motor-racing grand prix, according to the championship’s chief executive, Bernie Ecclestone.
Formula One’s smaller teams have stated their belief that progress is being made on the subject of revenue distribution in the motor-racing series, while the sport’s chief executive, Bernie Ecclestone, has moved to clarify controversial comments over the importance of the youth market.
Formula One motor racing team Caterham will have their main travel expenses covered by series supremo Bernie Ecclestone at the Abu Dhabi Grand Prix, but fellow financially stricken back marker Marussia has failed in a late bid to take part in the season finale.
Formula One’s smaller teams have expressed their fears over the motor racing series developing into a constructor and customer championship, with the demise of the Marussia outfit bringing the future of F1 to the fore during the Brazilian Grand Prix weekend.
A New York appeals court has upheld the dismissal of a $650m (€525m) lawsuit against Bernie Ecclestone, the chief executive of the Formula One motor-racing world championship.
Administration-bound Formula One teams Caterham and Marussia have both been included on the entry list for the motor racing series’ 2015 world championship, raising hopes they will survive beyond the current campaign.
Formula One chief executive Bernie Ecclestone has conceded that the crisis over the future of several of the motor-racing series’ teams is “probably my fault,” adding that its resolution will require concessions to be made by several parties.
Formula One chief executive Bernie Ecclestone has said the motor racing series is in talks to return a race to the streets of Las Vegas.
Formula One has reported profit of $530.7m (€423m) for 2013, while the motor-racing world championship’s chief executive, Bernie Ecclestone, has played down speculation that CVC Capital Partners is actively seeking to sell the series in the coming months.
Formula One’s main shareholder CVC Capital Partners has “revived talks” with advisers about an initial public offering (IPO) of the motor-racing series, while the position of chief executive Bernie Ecclestone has come under increased scrutiny amid reports he has been denied a place back on the board of the sport’s parent company Delta Topco.
Increased payments to Formula One teams led to a fall in operating profit for the motor-racing world championship in the year to December 31, 2013, according to Forbes.
Experts in commercial landscape of Formula One met at SportBusiness International headquarters last month to debate the real extent to which stakeholders in the sport are achieving ROI. Will Formula E be competitive to Formula One? Is the sponsorship proposition as attractive to brands as it has been in the past? And who should replace Bernie Ecclestone when he leaves the sport? All of this, and more, was discussed in depth.
BayernLB has rejected a €25m ($33.5m) settlement offer from Bernie Ecclestone in relation to the Formula One chief executive’s involvement in the 2005 sale of the German bank’s stake in the series.
Formula One chief executive Bernie Ecclestone is set to remain the figurehead of the motor-racing series after a German court today (Tuesday) dropped a bribery case against him following the 83-year-old agreeing a $100m (€73.5m) payment to end the trial.