Mosley positive about a settlement

FIA President Max Mosley believes that ACEA, the European carmaker group, and Kirch, the the media firm, will eventually reach a compromise deal over the ownership of SLEC. The two parties are currently in a dispute, ACEA objecting to Kirch...

FIA President Max Mosley believes that ACEA, the European carmaker group, and Kirch, the the media firm, will eventually reach a compromise deal over the ownership of SLEC.

The two parties are currently in a dispute, ACEA objecting to Kirch being involved in the ownership of SLEC because its officials are uneasy about the group's intentions, particularly with F1's television rights. And recently ACEA said it would continue with its plans to establish its own commercial holding trust that will pave the way to a breakaway championship if an agreement with Kirch can't be found soon.

In a recent interview, Mosley said a compromise deal was necessary to keep Formula 1's commercial and public appeal alive. "In the end, everybody understands that one championship is vastly more valuable and interesting than two championships," he revealed.

"I think that in the end there will be a simple calculation that they on the one side, and the Kirch Group on the other, will weigh up what both sides would have if there were two championships.A big championship is so much more valuable than a small championship that it's a relatively straightforward negotiation."

ACEA says it will establish a company called NEWCO that will operate like SLEC but with ownership available only to the members, DaimlerChrysler, BMW, Renault, Fiat, and Ford. It will then commence the new Championship in 2008, featuring the affiliated teams, McLaren, Williams, Renault Sport, Ferrari and Jaguar.

Theoretically the 'other' and current series would collapse, with other teams set to follow ACEA and its members to the NEWCO Championship. Kirch, which now owns 75% of SLEC having done a deal with the debt-ridden EM.TV, said earlier this year however that it was ready to negotiate a special deal with ACEA.

Mosley added: "I would be surprised if that's not all settled in the next year or two."

Be part of something big

Write a comment
Show comments
About this article
Series Formula 1
Teams Ferrari , McLaren , Williams