SBD/August 18, 2011/Leagues and Governing Bodies

League Notes

Ecclestone facing lawsuit over sale of F1 six years ago
In London, Jonathan Russell reports F1 Management Chair Bernie Ecclestone is "facing a multi-million pound lawsuit over the controversial sale of the sport six years ago." The case pits former F1 Owner Constantin Medien against Ecclestone, "his holding company Bambino Holdings, his business partner Stephen Mullens and the German investment banker Gerhard Gribkowsky." The case reportedly involves "allegations that the deal to sell F1 to CVC Capital Partners" for US$1.7B in '05 was "manipulated by the defendants resulting in Constantin missing out" on more than US$100M in payments (London TELEGRAPH, 8/18).

THE WAITING GAME: IndyCar CEO Randy Bernard confirmed on Saturday that a "bodywork kit program that will make the new Izod IndyCar Series cars look different from one another was delayed a year." Bernard "pinned the chassis platform on the kits during last year's high-profile announcement at the Indianapolis Museum of Art, but he said pressure from team owners to contain costs in a year of overhauling the equipment forced his hand." The manufacturers building the aerodynamic kits have said that it "will cost up to $4 million if done for next season." IndyCar "has established a $75,000 price point for teams, but teams will need several kits per car" (Curt Cavin, INDIANAPOLIS STAR, 8/15).

PICKING UP THE PIECES: NHL Commissioner Gary Bettman "expects the league to review its substance abuse and behavioural health program following the death" of two players -- Rick Rypien and Derek Boogaard -- this summer. Bettman yesterday said, "My guess is we'll talk at the appropriate time with the players' association, making sure that we're comfortable with all of the mechanisms and programs we have in place, which are extensive." The death of both players "has made it a difficult summer for the league." Bettman: "It's tragic, it's sad. Both instances, while they're different in terms of what happened and why, they're still tragedies any time you lose young people in the prime of life" (CP, 8/17).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug