Tag Archive: CVC

Nov 22

Angry teams happier after Mackenzie meeting

F1’s three angry teams seemed slightly less angry on Saturday after a meeting with Donald Mackenzie.

2014-03-30 - Sahara Force India F1 Team - Malaysia -Sergio Perez - Teams The usually paddock-shy CVC chief made the trip to Abu Dhabi to meet with Bernie Ecclestone and Lotus, Sauber and Force India, with the three teams crying foul over how the power and income is distributed within formula one. Read the rest of this entry »

Nov 21

Politician says F1 breaching EU competition agreement

“Grave concerns” about F1’s governance

2014-03-30 - Scuderia Ferrari - Malaysia - Fernando Alonso - Kimi Raikkonen - Teams 01 With F1’s biggest names swapping teams and the 2014 championship entering its decisive showdown, the furore over the future of the sport enjoyed a brief sojourn on Thursday. Read the rest of this entry »

Nov 20

European Union ‘turns eye’ to F1 crisis – report

The threat of a major civil war within formula one is growing by the day.

Circle of 12 gold stars on a blue backgroundThat is the claim of Germany’s Auto Motor und Sport, following reports disgruntled small teams Lotus, Sauber and Force India are furious talks to have more income released by F1 owner CVC are failing to bear fruit. Read the rest of this entry »

Nov 09

Future still clouded for three small teams

But a meeting at Interlagos late on Saturday broke with no solution in place.

2014-03-16 - Caterham F1 Team - Australia - Marcus Ericsson 03 teams A week after the boycott threats of Austin, struggling teams Lotus, Force India and Sauber travelled to Brazil apparently close to a ‘fighting fund’ bailout that would secure their future. Read the rest of this entry »

Nov 08

Ecclestone slams Caterham’s ‘begging bowl’

Bernie Ecclestone has joined those who are heavily critical of Caterham’s plea for fans’ money to get the struggling team back on track.

2012-11-15_0006 In administration and missing in Austin and Brazil, the outfit has launched a crowdfunding scheme to raise the almost $4 million it says it needs to make it to this year’s Abu Dhabi finale. Read the rest of this entry »

Nov 06

Caterham preparing for Abu Dhabi return

Caterham is preparing to return to formula one for F1’s 2014 finale in Abu Dhabi next month.

2014-06-08_0925 As it was put into administration following founder Tony Fernandes’ ill-fated sale to Colin Kolles-managed investors, the team as well as backmarker Marussia sat out Austin and will again be absent in rainy Brazil this weekend. Read the rest of this entry »

Nov 05

Caterham and ‘Manor’ on 2015 entry list

Caterham and Marussia have both entered the 2015 world championship.

2014-03-16 - Caterham F1 Team - Australia - Marcus Ericsson 02 teamsThe backmarkers, in administration amid financial problems, sat out the US grand prix and will again be absent in Brazil, where the F1 world began on arrive early on Wednesday amid heavy rain. Read the rest of this entry »

Nov 05

Berger denies talks with McLaren, Ferrari

Gerhard Berger has played down persistent speculation his next move could be a return to the F1 paddock.

20131019-0045 The F1 legend recently stepped down from the FIA after presiding over the governing body’s junior single seater categories. It triggered speculation that earlier reports he might be preparing to join McLaren-Honda, although dismissed at the time as “utter nonsense”, are actually true. Read the rest of this entry »

Nov 04

‘Base payment’ could resolve boycott threat – Lopez

F1 authorities are scrambling this week to put down a lingering boycott threat ahead of the Brazilian grand prix.

2014-05-04 - Lotus F1 Team - Gerard Lopez As the sport’s air freight touches down in Sao Paulo, the Brazilian news agency Estado reports that organisers of the Interlagos race are dismissing claims of a boycott threat, insisting that 18 cars – every team with the exception of insolvent Caterham and Marussia – will line up on the grid. Read the rest of this entry »

Nov 01

Boycott threat emerges as next teams face collapse

Battle lines are being drawn as F1 reacts to the ‘crisis’ of collapsing teams.

2014-07-20 - 99005 - Red Bull Racing - Daniel Ricciardo But Red Bull’s Dr Helmut Marko declared unequivocally ahead of the US grand prix: “We are ready.” He was referring to the concept of three-car teams, as he admitted to Germany’s Auto Motor und Sport that it might cost the sport’s big players up to $30 million each. Read the rest of this entry »

Oct 04

Ecclestone says F1 board reports ‘rubbish’

Bernie Ecclestone has slammed reports his return to formula one’s executive board has been denied.

2012-11-15_0006 British newspapers on Friday had said that despite his German legal troubles now being over, the board of F1’s holding company Delta Topco put “conditions” on Ecclestone’s return that were not met. Read the rest of this entry »

Sep 15

Ferrari could take $25m stake in F1

Ferrari could become the first F1 team to actually own a stake in the sport, the Telegraph reports.

2014-06-05_0034 F1 business journalists Christian Sylt and Caroline Reid reveal that, as a non-executive director of the sport’s holding company Delta Topco, departing Ferrari president held an option to buy into F1 to the tune of about $25 million. Read the rest of this entry »

Aug 24

Ecclestone returns to F1’s executive board

Bernie Ecclestone has returned to the executive board of F1’s parent company.

2013-06-06_0008 Although he remained F1 chief executive, the 83-year-old had stepped down from Delta Topco amid his corruption trial in Germany. Read the rest of this entry »

Aug 06

‘Free man’ Ecclestone goes back to work on F1

Bernie Ecclestone is going straight back to work after agreeing a $100 million deal to end his bribery trial in Munich.

Bernie Ecclestone-11-2010 Amid high controversy and suggestions F1’s major stakeholders and his employer CVC might not be happy with Tuesday’s news, it was confirmed that the outcome of the court proceedings is that the 83-year-old is a “free man”. Read the rest of this entry »

Aug 05

Ecclestone corruption ‘acquittal’ set for Tuesday

Bernie Ecclestone is expected to put the corruption scandal behind him on Tuesday and return full-time to formula one.

Formula 1 Circuit in Sochi - Bernier Ecclestone 2 The sport’s chief executive has been caught up in a German court trial in the opening half of most weeks recently as he fends off accusations he bribed Gerhard Gribkowsky. Read the rest of this entry »

Aug 04

F1 to ‘welcome’ Ecclestone court settlement – Lauda

“If Bernie stops, it would have been a disaster for formula one”

2014-06-07_0324 Niki Lauda says F1 should “welcome” the news that Bernie Ecclestone looks to have settled the high-profile corruption case that threatened his role at the top of the sport. Read the rest of this entry »

Jul 20

Ecclestone plays down F1 buy-back reports

Bernie Ecclestone has played down suggestions he is set to buy back formula one.

Donald MacKenzie - Bernie Ecclestone F1 business journalist Christian Sylt claims the sport’s biggest shareholder, CVC, is already committed to selling its stake by next July. Read the rest of this entry »

Jul 10

CVC’s Mackenzie backs Ecclestone in court

F1 owner CVC’s chief Donald Mackenzie on Wednesday gave Bernie Ecclestone a boost.

2011-06-09_0303 Mackenzie, CVC’s co-founder and chairman, has not always seen eye-to-eye with F1’s controversial ‘supremo’, and has even warned that Ecclestone risks expulsion over the Gerhard Gribkowsky bribery affair. Read the rest of this entry »

Jul 05

Ecclestone admits F1 buy-back possible

Bernie Ecclestone has admitted he might buy back formula one.

2012-11-15_0008 The Silverstone weekend kicked off amid rumours major shareholder CVC could be considering selling its stake. Read the rest of this entry »

Jul 03

F1 teams also battling to buy into sport

“Lawrence Stroll, of Tommy Hilfiger, who apparently has Ferrari on board

2014-06-08_0747Formula one teams may not just be competing for trophies and sponsors, according to a report by Germany’s Auto Motor und Sport.

Read the rest of this entry »

Jul 02

Witness gives Ecclestone good day in court

Bernie Ecclestone’s defence got a boost on Tuesday, as the corruption trial continued in Munich.

2012-11-15_0008 If found guilty of having bribed the jailed former F1 banker Gerhard Gribkowsky, the sport’s chief executive will certainly lose his job, and probably also be jailed. Read the rest of this entry »

May 26

F1 could be destroyed without a ‘dictator’ – Briatore

Formula one “needs a dictator”, according to the flamboyant former team boss Flavio Briatore.

Flavio Briatore - Bernie Ecclestone Embroiled in a corruption scandal that could end his reign, F1’s current ‘supremo’, Bernie Ecclestone, has hinted that his bosses at CVC could be about to replace him. Read the rest of this entry »

May 24

Ecclestone should have quit F1 already – Briatore

Flavio Briatore thinks Bernie Ecclestone’s days in charge of F1 are numbered.

Flavio Briatore - Bernie Ecclestone Embroiled in a bribery scandal and criminal trial, the sport’s ‘supremo’ on Friday stunned the paddock when he said that if F1 owner CVC finds a successor for him, “I will leave tomorrow”. Read the rest of this entry »

May 23

Ecclestone hints he could ‘leave F1 tomorrow’

Bernie Ecclestone has hinted he is close to stepping down as F1 supremo.

2011-06-09_0303 Most insiders believe that, with star witness Gerhard Gribkowsky often sounding contradictory or unbelievable, Ecclestone’s Munich corruption trial is going well for the 83-year-old. Read the rest of this entry »

May 19

F1 eyes Scudamore to replace Ecclestone

CVC has admitted it is interested in hiring him for F1

2012-11-15_0008 A source at F1 owners CVC have named Richard Scudamore as an ideal successor to the sport’s embattled chief executive Bernie Ecclestone. Read the rest of this entry »

Apr 24

F1 board admits Ecclestone reign ‘over’

Ecclestone era is “over”

2012-06-07_0340 The criminal trial is only just beginning, but F1’s board has already conceded that the Bernie Ecclestone reign is at an end. Read the rest of this entry »

Apr 18

Plea bargain could keep Ecclestone in charge

“I’m going into this trial to prove my innocence of what I’m being charged with”

2013-06-07_0008Bernie Ecclestone has denied rumours he will strike a plea deal with Munich prosecutors to stay out of jail and in charge of F1. Read the rest of this entry »

Apr 09

Teams in talks to buy into F1 – Ecclestone

A group of teams is indeed “having a conversation” about buying into F1

2014-03-30 - Scuderia Ferrari - Malaysia - Fernando Alonso - Kimi Raikkonen - Teams 01 Bernie Ecclestone on Wednesday revealed that a group of teams is considering buying into formula one. Read the rest of this entry »

Apr 03

Next revolution afoot as Montezemolo meets Ecclestone

On the table will be discussions about the controversial fuel flow meter

Luca di Montezemolo - Bernie Ecclestone Ferrari president Luca di Montezemolo flew from Maranello to London this week to meet with F1’s chief executive Bernie Ecclestone. Read the rest of this entry »

Mar 30

Bernie Ecclestone has been on a mission in Malaysia this weekend to turn up the volume in formula one

Ecclestone on a mission to make more noise

2012-11-15_0006 Apparently alarmed that the sport’s new, quieter tones will drive away promoters, sponsors and fans, the F1 chief executive has been hard at work trying to come up with a way to make the turbo V6s louder. Read the rest of this entry »

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