Lehman Brothers Failure Affects F1 | FerrariChat
Buy

Lehman Brothers Failure Affects F1

Discussion in 'F1' started by Barrister, Sep 17, 2008.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. Barrister

    Barrister Formula Junior

    Aug 11, 2008
    709
    The OC
    Full Name:
    "Big D"
    #1 Barrister, Sep 17, 2008
    Last edited: Sep 17, 2008
  2. bmiller411

    bmiller411 Formula Junior

    May 6, 2004
    405
    Houston, Texas
    Full Name:
    Bruce B Miller
    #2 bmiller411, Sep 18, 2008
    With Lehman in BK the courts are in charge. They do not have to give that first right of refusel to anyone. All they want is the best price that they can get
    for the stock.I think that they will put it on the auction block to see what it will bring.
     
  3. Whisky

    Whisky Three Time F1 World Champ
    Silver Subscribed

    Jan 27, 2006
    32,068
    In the flight path to Offutt
    Full Name:
    The original Fernando
    #3 Whisky, Sep 22, 2008
    So how on earth could F1 lose 230 Million dollars last year ????
     
  4. Ricambi America

    Ricambi America F1 World Champ
    Sponsor Owner

    Dec 7, 2003
    16,459
    Winston Salem, NC
    #4 Ricambi America, Sep 22, 2008
    230 million GBP = ca. 450 USD.
     
  5. senna21

    senna21 F1 Rookie

    Jul 2, 2004
    3,334
    Los Angeles, CA
    Full Name:
    Charles W
    #5 senna21, Sep 22, 2008
    Because of the huge loan that was taken out to purchase it and the interest payments associated with it. Bernie got a sucker and ran straight to the bank. Could you imagine if the manufacturers had set off with their breakaway series what F1 would have done? They would have had Ferrari and a couple of other teams, a huge outlay of cash and really no one watching.
     
  6. Modeler

    Modeler F1 Veteran

    May 19, 2008
    7,330
    State of confusion
    Full Name:
    a.n.other
    #6 Modeler, Sep 22, 2008
    115 mill quid of that was just interest on the money lent.
     
  7. GuyIncognito

    GuyIncognito Ten Time F1 World Champ
    Silver Subscribed

    Jun 30, 2007
    100,043
    #7 GuyIncognito, Sep 22, 2008
    does this all go back to the Kirsch Media deal at the beginning of the decade? if so, its amazing how that deal keeps resonating around the sport.
     

Share This Page