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Old 25 Nov 2005, 08:31 (Ref:1469872)   #1
JAG
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JAG should be qualifying in the top 3 on the gridJAG should be qualifying in the top 3 on the gridJAG should be qualifying in the top 3 on the grid
Bernie Sells
Being reported on the BBC that Eccelstone has sold his stake in F1.
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Old 25 Nov 2005, 08:33 (Ref:1469874)   #2
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No way. has the old man gone mad ?

Who has it sold it to ? the devil ?
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Old 25 Nov 2005, 08:37 (Ref:1469876)   #3
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Kicking-back should be qualifying in the top 5 on the gridKicking-back should be qualifying in the top 5 on the grid
To a capital ventures company, who also own Moto GP's commercial rights.

I suspect this may now lead to some sort of deal with the GPMA
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Old 25 Nov 2005, 12:10 (Ref:1469986)   #4
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Who owns the capital investment company?
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Old 25 Nov 2005, 12:14 (Ref:1469990)   #5
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ASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the grid
I'm quite sure it's Dorna Sports S.L. as they hold the commercial rights to MotoGP..
But who owns Dorna I have no idea..
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Old 25 Nov 2005, 12:16 (Ref:1469991)   #6
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Story here.
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Old 25 Nov 2005, 12:18 (Ref:1469994)   #7
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ASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the grid
Well ok, so CVC own Dorna then...

This sure fell like lightning from a clear blue sky!
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Old 25 Nov 2005, 12:41 (Ref:1470006)   #8
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For laymen like me what will this actually mean?
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Old 25 Nov 2005, 12:45 (Ref:1470011)   #9
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ss_collins should be qualifying in the top 3 on the gridss_collins should be qualifying in the top 3 on the gridss_collins should be qualifying in the top 3 on the gridss_collins should be qualifying in the top 3 on the grid
Let be accurate - what has Bernie actually sold?
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Old 25 Nov 2005, 13:11 (Ref:1470022)   #10
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ASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the gridASCII Man should be qualifying in the top 3 on the grid
I think pretty much everything, most likely he'll be having no say in F1/FOM matters at all now...
I'm still not sure if this is a good thing or a bad thing...
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Old 25 Nov 2005, 13:12 (Ref:1470023)   #11
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Suze should be qualifying in the top 3 on the gridSuze should be qualifying in the top 3 on the gridSuze should be qualifying in the top 3 on the grid
according to the report from pitpass, it's their (Bernie's and BayernLB's) stake in SLEC which is the F1 group holding company.

who owns what of what and how exactly that affects various aspects of things i'm still trying to work out...i'm having a slow brain day!
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Old 25 Nov 2005, 13:51 (Ref:1470068)   #12
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Originally Posted by ASCII Man
I think pretty much everything, most likely he'll be having no say in F1/FOM matters at all now
Just a little clarity ...

Bernie sold "part" of his ownership and is staying on as CEO, so he'll continue to have a say.

And the purchasing company is CVC Capital Partners, a privately held equity partnership. CVC owns Dorna, not t'other way around and it's Dorna who own the rights to MotoGP. I haven't been able to find out who owns CVC (probably Freemasons )

Bernie is a very rich man - something in the range of 2.3 billion pounds - and he's 75. This move is likely him just divesting his investment before the expiry of the Concorde agreement in 2007.

As much as we all complain and moan about Bernie, he is a very smart man.
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Old 25 Nov 2005, 14:06 (Ref:1470083)   #13
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And the purchasing company is CVC Capital Partners, a privately held equity partnership. CVC owns Dorna, not t'other way around and it's Dorna who own the rights to MotoGP. I haven't been able to find out who owns CVC (probably Freemasons )
Exactly what I said before..
Well not exactly, but I did say it.
And I don't think CVC are owned by any other entity.

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Bernie Ecclestone and BayernLB, one of three banks that own 75 percent of F1, have sold their stake in SLEC, the Formula One group holding company, to CVC Capital Partners, an independent investment and advisory company, for an undisclosed price.
This makes me rather believe that he sold everything instead of just a portion...
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Old 25 Nov 2005, 14:15 (Ref:1470090)   #14
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So is this good for Formula1 or not?
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Old 25 Nov 2005, 14:25 (Ref:1470097)   #15
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This makes me rather believe that he sold everything instead of just a portion...
ASCII ... I'm just going on what Reuters is reporting, that Uncle Bernie sold "part of his ownership for an undisclosed amount". Probably just the standard confusion when a story first breaks.
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Old 25 Nov 2005, 14:28 (Ref:1470100)   #16
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So is this good for Formula1 or not?
I'm not sure if anyone could say one way or the other because at this point it would just be speculation. By the end of the 2008 season we will be able to look back and access whether it was good for F1.

Look at it this way, if Bernie is one of the partners behind CVC and all he's doing is a little estate and tax planning, then nothing really changed. Weird, I know, but it's just one way to look at it.
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Murray Walker: Ferrari won't be developing their car any more this season.
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Old 25 Nov 2005, 14:32 (Ref:1470102)   #17
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Pingguest should be qualifying in the top 10 on the grid
Bernie Ecclestone will stay as the most important man in Formula 1. Nothing will change practically.
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Old 25 Nov 2005, 14:33 (Ref:1470104)   #18
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Thank you I did not mean for my question to sound so direct.
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Old 25 Nov 2005, 17:56 (Ref:1470238)   #19
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Bernie to sell his bit of F1
http://news.bbc.co.uk/1/hi/business/4470378.stm

whoops::- someone's started this already
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Old 25 Nov 2005, 18:01 (Ref:1470241)   #20
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http://news.bbc.co.uk/1/hi/business/4470378.stm

whoops::- someone's started this already
This can only be good news!
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Old 25 Nov 2005, 18:04 (Ref:1470243)   #21
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Depends, cause he will still be the chariman, so F1 still has to face him
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Old 25 Nov 2005, 18:37 (Ref:1470266)   #22
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Kicking-back should be qualifying in the top 5 on the gridKicking-back should be qualifying in the top 5 on the grid
The fact Bernie remains is a good thing.
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Old 25 Nov 2005, 18:57 (Ref:1470278)   #23
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This can only be good news!
Sorry? Giving control of part of the sport to an equity investiment company is a good thing

Are we letting an irrational (harsh?) hatred of a man get in the way here?
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Old 25 Nov 2005, 19:29 (Ref:1470302)   #24
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At least when Bernie controls we know he is going to make sure it doesn't get thrown in the gutter through some ridiculous strategy.

After he has sold it on, well, then that is a different matter.
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Old 25 Nov 2005, 19:34 (Ref:1470304)   #25
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It seems like CVC are very keen for Bernie to continue to run the sport. At least they understand that it takes someone liek that to do it rather than have delusions themsleves.
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