Ecclestone poised to buy back F1
13 April 2012
Formula One promoter Bernie Ecclestone and the main car makers involved in F1 are poised to bid for all or most of the troubled German media group Kirch's majority stake in the motor sport.
The joint approach follows talks in Geneva between Ecclestone, the former owner, and senior car company executives. They include Fiat chairman Paolo Cantarella, Wolfgang Reitzle, head of Ford's Jaguar-owning Premier Automotive Group, and Jurgen Hubbert, head of Daimler Chrysler's Mercedes-Benz divisions.
The deal would leave the manufacturers and Ecclestone's family trust, SLEC, with majority control of the companies holding broadcasting and commercial rights to F1.
