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SBD/September 23, 2013/Leagues and Governing Bodies
Future Of F1 Hinges On FIA Presidential Election As Ward Challenges Todt
Published September 23, 2013
DOLLARS & SENSE: Ecclestone said of the division of revenues between F1 commercial rights holder CVC Capital and F1 teams, "They get 62 percent. The difference is, we control what we spend, and they can’t. Because if you look at it, very few of them are business people. If you look at their history and what they've done, it's pretty clear. They spend too much, it's as simple as that. All of the teams in Formula One, including the ones at the back of the grid, could and should be making a very good profit. I can’t help them. If you give all of them 25 percent more next year, you’d be sitting here with me at the end of next year with the same stories" (N.Y. TIMES, 9/20). Meanwhile, the AFP's Talek Harris reported Ecclestone on Saturday "insisted plans for a multi-billion dollar initial public offering in Singapore are still very much on despite a lengthy delay in the process." Ecclestone said that he was "'sure' Formula One would float on the city-state's exchange as soon as the timing is right" (AFP, 9/22).