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Ecclestone greases F1 float with FIA equity stake of 1%
You may recall that Formula 1’s governing body, the FIA, announced that they had signed an agreement with the commercial rights holders. For years the Concorde Agreement has governed the sport, which was a tripartite agreement between the FIA, Formula One Management (FOM) and the teams. This agreement is something different and it appears it gives the FIA more of what they want—money.
According to the Guardian’s Christian Sylt, the FIA will now receive a 1% stake in Formula 1 nested in the planned flotation of the sport. This could mean an increase in FIA revenue from $10m annually to $40m plus a 1% equity stake worth $120m. It's a strong financial position but check out Mr. Sylt's...
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12y ago from Formula1Blog.com
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