F1 » Investors 'worried' by CVC silence over F1 'bribery' scandal


It has been reported that investors in CVC Capital Partners are beginning to get 'worried' by the lack of communication from F1's majority owners over the current 'bribery' scandal rocking the sport

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Caroline - Unregistered

July 28, 2011 7:37 PM

No they're not, Mark Kleinman, business editor of Sky News says they are ... And you don't have to be a genius to work out why he spinning the story that way.

Taz - Unregistered

July 28, 2011 8:19 PM

@Nick Yamani

Like him or hate him, not many used car salesmen have owned an F1 team and end up running one of the biggest sports in the world.

CVC didn't get rid of him after his Hitler comments so a little dodgy money allegedly been passed about isn't going to change anything, a fair percentage of elected councillors/politicians take bribes, don't agree but it's reality.

I'm not suggesting for one minute Bernie did.

Cobalt

July 28, 2011 10:33 PM

Bernie told CVC and investors that he didnt make any payment to Gribkowsky. Later he had to admit that he did.
He has nothing to hide but he hides as much as he can get away with.

Thats the way to get money from Bernie: ask him about the way he manages his (any anyone elses) finances.
CVC investors should keep asking, Bernie may give them better share of dividents just to avoid questions.

Taz - Unregistered

July 28, 2011 10:56 PM

@Cobolt

Very possibly.

I'm sure it's all ready agreed behind closed doors. Until the German prosecutor establishes firm facts it's pointless speculating.

Not his biggest fan but I suspect Bernie will win/survive, Before you know it Max Mosley will be running things again.

Googolplex

July 29, 2011 1:53 AM

This whole saga is seriously bad for F1. Bernie has admitted that he made a 27 million pound pay off to Gribkowsky, but says it was not for the purpose getting Gribkowsky to undervalue BayernLB's shares (in the sale to CVC), but to stop Gribkowsky from talking to the Inland Revenue about Bernie's control of a certain off-shore entity. Either way, Bernie's character is seriously in question.

If those who participate and invest in the sport have any moral fibre and care about the long term standing of the sport in the minds eye of the general public, then Bernie's days as F1 supremo must be coming to an end soon. CVC should act now to bring Bernie's tenure to an end. If they don't, that raises very serious questions about CVC (and of the investors in CVC who refrain from asking the hard questions and sit back taking their fat dividends).

elijah - Unregistered

July 29, 2011 8:17 AM

BREAKING NEWS .The BBC and Sky have joined forces to secure live rights to Formula One motor racing in a seven-year deal from 2012 until 2018 but only half of the races will be broadcast on the BBC.

Sky will broadcast all the races, qualifying and practice sessions while the BBC will have the rights to half the races and qualifying including "key races" such as the British Grand Prix, Monaco Grand Prix and the final race of the season.

It will be the first time Formula 1 races have not been available live on free to air television.
S##T

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