F1's crown loses it shine

It seems that not everything is milk and honey

http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=33935

 

Yea, I'd read that as well. Given the balance sheets I'd say it's only a matter of time before Silverstone looses its race.

 

from pitpass-
"Ecclestone certainly cashed out at the right time. He still runs the business but has just one share in it."

Wow, so Bernie leverages F1 to the max, sells all his stock, then walks away with a billion dollars. (The "then walks" part hasn't happened yet.)

 

Sounds like poor business on the part of CVC!

Well, whatever trouble F1 gets into -- financial or otherwise -- they have it coming to them. No tears shed here.

 

Amen!@!

Letting a man whose only interest was the money run the show was always going to end like this ... Bernie has sncked it dry!
Pete

 

Unfortunately, F1 is a business and is treated as such.

 

I wonder how the paper was sold to finance the deal? If I were Ecclestone or any other enterprising F-1 guy, I would wait till they are in a huge credit crunch, buy F-1 back for a song, and split the proceeds with all the teams...on top of the concord deal.