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SBD/May 31, 2012/Leagues and Governing Bodies
F1 IPO To Have Shares Accompanied By Loan Note To Help Prevent Takeover
Published May 31, 2012
NO SURE THING: The London TELEGRAPH reports F1 Chair Bernie Ecclestone has “thrown the prospect of next year's proposed Grand Prix of America into serious doubt.” The race, on a street circuit in New Jersey with the Manhattan skyline serving as a backdrop, “is scheduled to make its debut next year.” Although the event was announced in October, “it is understood to have run into financial, and in turn, contractual difficulties with Ecclestone.” He said, “I hope everything will be okay. They are sorting things out internally with some of their funds. If they are ready for 2013 we will have them” (London TELEGRAPH, 5/31).