Carmakers Say F1 Future in Ecclestone's Hands

Carmakers involved in Formula One are expecting an approach from Bernie Ecclestone or other rights holders over the future of the sport, DaimlerChrysler's chief executive said on Wednesday.

Five major carmakers involved in the sport - including DaimlerChrysler - have established a group called GPWC and have stated their intention of starting a rival to Formula One when their existing agreement expires in 2008.

But the implosion of debt-laden German media company Kirch, which held the majority of the rights to broadcasting Formula One and angered carmakers by proposing a shift to pay-per-view television, has prompted speculation the carmakers may now buy the rights.

"We are prepared (to go ahead with the rival championship)," Daimler chief executive Juergen Schrempp told a DaimlerChrysler annual meeting in Berlin.

"It is now up to Mr Ecclestone or others who hold the rights to hold talks with the carmakers to see if our legitimate wishes can be satisfied, including that Formula One be on free-to-air television.

"Then we could still come to a solution."

DaimlerChrysler has in the past spoken on behalf of all the carmakers' group, which also include BMW, Ferrari-owners Fiat, Renault and Ford, owners of Jaguar. They are expected to meet at this weekend's San Marino Grand Prix to discuss plans for their rival championship.

They would like a bigger slice of Formula One revenues and want to ensure maximum exposure for their brands on television.

A BMW board member said in March that the carmakers would not buy the F1 rights from Kirch, although some interpreted this as a bargaining position to drive the price down.