Ecclestone sells stakes in FOA

Bernie Ecclestone is believed to have struck a deal to sell approximately half of Formula One Administration. A 12.5% stake has been sold to Morgan Grenfell for $325m, with an option to purchase a further 37.5% for $975m through Deutsche Bank.

Bernie Ecclestone is believed to have struck a deal to sell approximately half of Formula One Administration.

A 12.5% stake has been sold to Morgan Grenfell for $325m, with an option to purchase a further 37.5% for $975m through Deutsche Bank. 21 Investimenti, part of the Benetton families empire, also has an option to purchase a 37.5% stake, which Morgan Grenfell has an option on.

This values F1 television rights at approximately $2.6b.

-- Stephen M Baines http://www.motorsport.org.uk

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About this article
Series Formula 1
Drivers Bernie Ecclestone
Teams Benetton