Kidnappers reportedly seek $36.6 million, the largest sum in Brazilian history.
A member of European Parliament has written to the European Commission, asking it to review the FIA and how the small teams in the sport are treated. The FIA appears to have breached an agreement it made with European regulators in 2001, and the F1 Strategy Group is accused of running teams and support companies out of business.
To the casual observer, it would seem at least likely that F1 is owned by the FIA. It is, after all, known as the FIA Formula One World Championship. But in actuality, as far as the commercial rights are concerned, the sport is effectively owned by an intricate web of investment companies. But now the FIA has taken back at least a small part of it.
Octogenarian billionaire, briber and Bond villain caricature Bernie Ecclestone is not popular with the fans of the sport he oversees with an iron fist, and somehow, we don't think that's set to change after the 84-year-old gave a pretty wide-ranging interview with Campaign Asia-Pacific.
"There's a million countries that would like to have an F1 race," said the sport's commercial director Bernie Ecclestone to The Independent recently, "but they can't afford it." Las Vegas wouldn't fall into the latter category, but while not exactly a country unto itself, it is apparently at the top of the former list.
At times, it seems all too easy to imagine Formula One bigwig Bernie Ecclestone holding a cat and laughing maniacally like a James Bond villain. He just seems like a horrible person to be on the wrong side of. Now that Ecclestone has put his bribery trial in Germany behind him, his enemies had better watch out because Bernie is scheming for revenge.
Formula One bigwig Bernie Ecclestone has opened his wallet to finally put an end to his trial for alleged bribery in Germany. According to Britain's The Telegraph citing the Süddeutsche Zeitung, the controversial racing magnate offered a 60 million pound- ($100 million-) settlement to put the case behind him. Deutsche Welle is reporting that state prosecutors have accepted the deal. Ecclestone had initially proposed $25 million to take care of things and later increased the price further.
If you're one of the legions of racing fans disappointed by the lack of noise from the new turbo V6s in Formula One and nostalgic for those old-school V10s, we have good news for you. According to reports, a new racing series is in the works that would bring back not only retired F1 cars, but also retired F1 stars.
Roughly 18 months after going bankrupt, being put up for sale (which prompted rumors that Formula 1 supremo Bernie Ecclestone would buy it), the Nürburgring is finally very close to having a new owner. While the final contracts reportedly aren't signed yet, German business magazine Wirtschaftswoche indicates that American investment group HIG Capital, British investor Meyrick Cox and a German named Markus Graf Oeynhausen-Sierstorpff are buying the track for 60 million to 70 million euros ($
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