Aug.8 (GMM) F1's new owner, 'CVC', is becoming increasingly 'nervous' about its latest investment, according to reports on Tuesday.
'The Business' publication claims that the British company, whose investment is worth about $1 billion, is unable to secure a bond against the future revenue of the sport until carmakers and the FIA stop rowing about rules.
Although a broad commercial agreement was reached some time ago, it is understood that while an actual 'Concorde agreement' remains unsigned, CVC may have to consider 'refinancing its business model'.
Intriguingly, the FIA appeared to jump the gun on the thorny 'engine freeze' argument, by proclaiming an agreement on Monday without all GPMA manufacturers' consent.
A source explained: ''CVC is getting nervous. They expected to get agreement much earlier.
''CVC has contacted the teams and told them the dispute has to stop.''
Written: Tue, 08 Aug 2006 09:14:34
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- (August 08, 2006)View all headlines from this date
