F1 and Virgin Media

FrankJH

FrankJH

FrankJH

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leaskovski said:
More guff on the EC getting involved because of the FIA having to potentially sell of its 1% of shares...

http://www.forbes.com/sites/csylt/2...the-way-of-libertys-f1-takeover/#63be41bb19ec

Good read!
Click to expand...

Figures here are quite different from the ones on the BBC (not suggesting the BBC is always right, but there is a $1Bn difference it seems)
Also it seems that Forbes dont mention that (again according to the BBC) F1 is in $4bn of debt which I find hard to believe given how much money BE generates.

Does sound very dodgy indeed that the FIA are potentially benefiting from the sale upto $100m.
 
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leaskovski

leaskovski

leaskovski

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The_Abyss said:
http://www.skysports.com/f1/news/12...dia-buys-formula-one-motor-racing-in-6bn-deal

And the deal is done, and Bernie's included in it.
Click to expand...
I fully expect things to get messy with the second half of the deal and the fact that they say...

"The first tranche would involve the acquisition of an 18.7 per cent stake of F1 and would not be subject to regulatory conditions.

The remainder of the deal would see Liberty Media Corp acquiring the remaining 81.3 per cent of the company, which would be subject to the approval of certain regulators as well as the FIA, world motorsport's governing body."

In fact I am surprised that Sky doesn't mention anything of the fact that the FIA have shares and thus will have to sell.

I find it very odd that there isn't much coverage on the fact that the FIA have shares and that issue with the agreement back in 2001 with the EC.
 
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