EMTV chairman Haffa resigns

Thomas Haffa has resigned from his position as chairman of German media group EMTV, which co-owns a majority holding in the company which controls the broadcasting and marketing rights of the Formula 1 World Championship

EMTV chairman Haffa resigns

Haffa, whose resignation follows that of his brother Florian last year, has been replaced by Werner Klatten, a lawyer who used to work for German television network SAT1. As part of the reshuffle Haffa has also sold a quarter share of his 43 percent stake in EMTV to Klatten and not, as many thought, to the Kirch group.

EMTV was saved from the brink of bankruptcy last year by fellow German media giant the Kirch group, which bought a 17 percent stake of EMTV and in so doing was able to secure a 75 percent share in Formula 1 ringmaster Bernie Ecclestone's SLEC holding company.

It is not yet known who will buy the remaining three-quarter share of Haffa's stake. The five European-based car manufacturers involved in Formula 1 - Renault, Ford (Jaguar), Mercedes-Benz, BMW and Fiat (Ferrari) - are known to want a bigger share in the broadcasting rights for F1.

The 'Big Five' were not happy with such a large outside force, with different commercial consideration to their own, buying into Grand Prix racing when Kirch took its controlling stake in SLEC. Since then, they have threatened to set up a breakaway championship if the situation does not change.

Kirch's deal to save EMTV, meanwhile, is yet to be rubber-stamped by the German cartel authorities.

shares
comments
Ralf Not Surprised by Jordan's Decision

Previous article

Ralf Not Surprised by Jordan's Decision

Next article

Cooper Straight

Cooper Straight
Load comments
The squandered potential of a 70s F1 underdog Plus

The squandered potential of a 70s F1 underdog

A podium finisher in its first outing but then never again, the BRM P201 was a classic case of an opportunity squandered by disorganisation and complacency, says STUART CODLING

The other notable Monza escape that F1 should learn from Plus

The other notable Monza escape that F1 should learn from

OPINION: The headlines were dominated by the Italian Grand Prix crash between Max Verstappen and Lewis Hamilton, who had the halo to thank for avoiding potentially serious injury. But two days earlier, Formula 1 had a lucky escape with a Monza pitlane incident that could also have had grave consequences

Formula 1
Sep 17, 2021
How Monza only added more questions to F1's sprint race conundrum Plus

How Monza only added more questions to F1's sprint race conundrum

With two sprint races under its belt, Formula 1 must now consider its options for them going forward. While they've helped deliver exciting racing on Sundays, the sprints themselves have been somewhat lacking - creating yet another conundrum for F1 to solve...

Formula 1
Sep 16, 2021
Who should Alfa Romeo sign for 2022's F1 season? Plus

Who should Alfa Romeo sign for 2022's F1 season?

OPINION: With Valtteri Bottas already signed up for 2022, all eyes are on the race for the second seat at Alfa Romeo next year. Antonio Giovinazzi is the current incumbent, but faces a tough competition from appealing short and long-term prospects

Formula 1
Sep 15, 2021
The "forced break" that was key to Ricciardo's Monza excellence Plus

The "forced break" that was key to Ricciardo's Monza excellence

OPINION: Daniel Ricciardo has long been considered one of Formula 1’s elite drivers. But his struggles at McLaren since switching from Renault for 2021 have been painful to watch at times. Yet he’s recovered to banish those memories with a famous Monza win – built on a critically important foundation

Formula 1
Sep 14, 2021
How Verstappen is ruining his F1 title battle with Hamilton Plus

How Verstappen is ruining his F1 title battle with Hamilton

OPINION: The Italian GP clash between Lewis Hamilton and Max Verstappen followed a running theme in the 2021 Formula 1 title fight. Their close-quarters battles have often resulted in contact - and although Hamilton has shown a willingness to back off, Verstappen must learn to temper his aggression

Formula 1
Sep 14, 2021
Italian Grand Prix Driver Ratings Plus

Italian Grand Prix Driver Ratings

Two drivers produced maximum-score performances as, for the second year in a row, Monza threw up an unpredictable result that left several others ruing what might have been

Formula 1
Sep 13, 2021
Why Ricciardo was set for Monza F1 triumph even without Verstappen/Hamilton crash Plus

Why Ricciardo was set for Monza F1 triumph even without Verstappen/Hamilton crash

The clash between Max Verstappen and Lewis Hamilton was the major flashpoint the 2021 Italian Grand Prix will be remembered for. Yet by this point, race leader Daniel Ricciardo had already done the hard work that would put him in position to end his and McLaren's lengthy win droughts, on a memorable afternoon in Monza

Formula 1
Sep 13, 2021