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F1 owners say team contracts are not long enough

The High Court trial which has been engulfing Formula One for the past month may be coming to a close but there has been a steady stream of news in recent days. First it came to light that F1 nearly collapsed during the dispute with the teams in 2009. Then came another revelation from Donald Mackenzie, co-founder of CVC, the private equity firm which controls F1. As Pitpass' business editor Christian Sylt revealed on Saturday, Mackenzie accused the Royal Bank of Scotland of recklessly lending £1.6bn to F1. Now it has been revealed that his investors don't think the contracts with the teams are long enough.It could signal an extension to the long-running negotiations with teams about...
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4mo ago from Pitpass.com 0
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