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BERNIE’S GRIP 0 LASTMONDAY'SHigh Court Ibdgement against emi Eclestone may oreehsmepreingusn some ConolofFormul tne sporthehas rmorethan 20year Bynomeans, however doesAmesn reendofEcclestanes Fras ivuence.F1 surinese exper Che Syt Sisessesthejudgerentssinifeance: rdgemertconcemedthecontrolof jsrula Three banks own 7S er centot Ber lempireatelenara$ 1 Sbiion(€221 fessor) .0 German mecscompany Krchwtich Soventthesharesandtvenwant bust The feroning 5percentsintnehandsofBerie Excectone'sfamiy ust vnienasbeenat Keeserneadsviththebarksover win runs fe company atthetopafihetvee, Fermula One ekdngs FO. Thebarkscomplanedthat although theyare ejttyouners theyoniy had FO-sboatdof seven FOH ssn Decsuseltcontrosthecompeneswrish fences evenhinginFl fomtelevsion Sentactstosetinathecalencas Excestoneandhislegalagveorareboth Searectors buthisfomiy rusted more ISiciorsontsboara desptenaung sgnedan Secon thaticwoudontypavetwa. These a dhectorsareEccestone'stariy ends, i AgandandhiswteEmmanucle end CnMonday MrJustie Park orceresthem mpovetom FoHangimmectey fepacedby woofthebanks representatives itheughEccestonewilappea. the <5 Feclestone esi enefexecute, ut S ronssivont hasbeen loceenec History Brstrouhas rly two drectorscomparedwith Bebanisve.sothetalence ofpoweratthe peoaceofri hacsnites, ciestone hes nowlostcantrolofthe OH soany matesivotesonouldbe passed banks Boars make decssonsabouthow esarerun schasthe ppointmentct cif executive Gerhard Grbkowsy.the GeectorfernthelargestF shareholder oft tee banks Bayern hesaveadysacthat Sy warttoworkthEecestonebutexpectto jet reaterinfuence ontheF I compancs. clestcnelsF1sshrewdestdeaaker He pasbuitth illon colar sperm tsamateur sandhasthecantactstokeepitgroung Peis the onlyman who has everkept FT seo cates Prana Cb of team pinelpalsinatia net Anchehas ao successor softwouldbe Seuehforthetenistofinds replacement Acchieforeoutwe,Eodestonete SF's Sontman, uthis wingsnavebeenclpped. On Docrdissuesheishniortothebanks Suthohas been nerebefore Wentcrchowned he sajertyofF Nhadboardeanvalta but lstthingtheberkswantsforthe PWC Series tobeginfthotourmanutacurers GMM, Mercedes Fat ndRenaulDleaveF could outthevalvedfthebarks sercholing Aacsicethetearsscomplain they donot get Se shareinal off srevenues thebanksare keen topecfythem Sotretacthat the banks hevetakencentolcaudsecuretne future ofthesportasweknow't Untither the epie/ofthecurent Concorde Agreementin2008'satimebomb ekg down thevoive ofthe banks shares F'stopTV contactsarefveyearsinienginsoitcouldbe toughevenforEecestonetaconewsealsin thenestfewyears when Fence Beal and Germany areup orrenewal ifthe teams re not signedupfor2009 andbeyona Buti srevenuesdyupthenitdamages Ecclestone’ famiytusteswel asthabarss, Sovhilebisletestoferivohess $500 millon paymenttothe teams, iscatchisthatthey musteend ecommeril agreement And fhecanconvince eteamstostayRF'. tne bankswouldthinktulceabouteveroustinghim. The GPACseres\slencysetinmalion.Feaup cfwaltngiogetwhathey ventromEedestone andthe banks the PWC puts project ful SuingandinGeroberappoinede marketing ‘up (Seto selitscommerciaient= “Theresult of Uiecourtease does notcharge the GPC postion tutinsdersnatethathe banks share tsfourgnalso significant higher ‘sampayrents one tani forthe Ser fultransparency and widest Teach A Seurcessid“AssoonasFisstuctied accortingto GPNCour core obectvesit ‘wlaveseybetnenewseies Fthebaricgavethetesme at ofthe profts itwouldstilonlyepresent 7spercentotthe ‘otalwheress uncethe GANG thewhale pies Uplor gas Aditi bankegoweupaltner income fomFl.they wouldnotbeableto recoup ther money GPNC does nat consider biningthe banks shoresaspartoft satay acecthesoure thisebecavse the GWE belevesitcanhavelsown seriesin 2008 withouthavingtobuyanything Tabanks questforcontrolisnot complete Ezgestone tamil russtaharbord macy cnFermulaOne Administration and Formula, (One Management whichrunF1 day day. Butwthinthenestewmenths the banks wll take urtherlegaacionforcontrlof hese compaies Snaultheysucceed they wilhave FinalseyonboarimattestwoughoutF Thebans utimateaimistorecoup thelr ‘mone. in2002, wate pencing bvestom CeCandslack of conzo, German autores foxcedBayeinLBtore-stimatethevateoits FY shares tlentreh § ilonto buy ther but ‘they ae nowwortnarouna $500 miBen ifthe Darksfaltoconvince GPWCtastayinF hee sharesmaybeworthlessan sources saythey maysuetcclestone seeking damages forthe Eccestonessidon Monday thecournling neans nothingataltofim Tebarkswart togetout”hesaid—andifGPWC and say 2s fone.thismayneppen Wlecentuanttogs Conbeingsharenoiders forever” admits Peter KulmbuigefBayemt8 Butpovernathing witheutcontolandsine the banks non have tattoo itis treater ortnemtaseltherstake, in lOMS Min a =1@ Srey. | ORCL ome ee M a1 AayerscheLandesbank —Sanbinorutintiechtenstea ‘Trusteeuckpind Lehman others Porn chase v Speednames SustinoHeldegs ‘ese? os) 8% 23% ScHoldneseney y y Fornuladvetoiings y v Ferri One Adminstration y y Petraes) FemulaOneMaragement _FormulaOneWolTravel Formule com ‘1 LOOSENED =—=N TEAMS REJECT FERRARICUTS ide han aoe : Laat ch sb peRees volved in runing Formula Tare nl ve sine hcare. Last yar Haneda esimated 8 mon (flaring: o cover is costs and, Blifoustbere ae around 15 sources Finis finding ven al of (Gomes fi just vo gees 1 the Fr ndusey momor Formule Money the biggest sale investment in EL last yeat was the Sl. shn spent onthe teams by thet Cjners The starkest evidence tat money doesnot buy sucess in Fs hat the biggest of these payments ‘eas the $550 mili that Honda spent on stam. In contrast, Ferrari provided jst S60. ‘The moncy vested by te owners covers around 50 percent ote teas running et The all of his investment goes on manufacturing the VS engines. The accouns of Mercedes Fl engine depacunent shoved that 2007 employed 25 staf and had a budget of 1750, The Fl teams themscles usually pend mre on than anything else, wth McLaren paying is 570 employes including the divers, £549min 2007. The team buses are topes up wih sponsorship, hich st year bronghr in 2 ota of S856.9m ~ the second-highest investment n F,The remainder of the teams eos are covered by prize mone, and this paid to them in quarier instalment by the 1 Group run by Berle Eesesone. ‘Las year artind $5000 of prize money was pao the eas, and is she F Groups bigest ogni. also employs 260 stat and onzanises the Lvs Paddock Club corporate hospital. This cost heavy operation roaules tansporig to each ean pe 75395 pieces of eter, 4,000 asses, 0.000 pls, 3300 rhagnums of champagne and 200 tomes overt materia. The Fi Group also isthe race footage, which is provided to Broadcasters around the world and reqices ‘imecas and operators o be low io every rac. ‘ontas, puting up the wacksde advertising hoard {sat es itensive, since the FI Group contacts Belgian company Pubbelium to handle Other fal, such asthe podiim ceremony and the safes ca. re also handled by te F Group, bu thir nss ae in tum Supported by sponsorship Far example, Mercedes deal to supp the sate cari wor aouind $5m anmealy ‘The only rum hat the eres have to sve fem hosting FIs ele sles but,at an arerae cost of| S25.7n the fee to hos a gran px can sometimes ven outweigh the money reeived from spectators. In 2007 governments provided total of $2750 cover FU hosting fees and parsculnlyin he current ‘conomic eimai, the verles that fk is sippor St those most a isk Siting on op of his entire system is he FLA. sends Scrutineerssewards and sa othe races and yt ees from the Fl Group as wel as from eeu tears and

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