F1 » No plan to replace Ecclestone, insist shareholders


Sources at CVC, the main shareholders of the Formula One Group, say that there are no pans to replace Bernie Ecclestone as CEO of the sport and that any successor is likely to come from outside.

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19Krpm

July 24, 2013 4:21 AM

Bayern were probably happy with the opportunity of getting rid of F-1 when they did, not the value of shares at the time. Cvc are monitoring developments, they probably meant, monitoring the impact on their shares, not the interests of F1 and the thousands of people who do real work day in day out to keep my sport limping forward to nowhere. After 15 yrs of neglect and milking, what else would anyone in F-1 world expect of them? How ironic that cvc might end up getting what they bargained for, when their seriously overvalued F1 shares hit bargain-basement levels when more c rap comes out in the public. The notion that c v c could not have known about 40M+ changing hands right under their noses defies common sense and logic. They can't afford to unload the gnome by the kerbs, he probably knows too much and who knows if they might need him to br be another european bank off icer $:-(.

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