Kirch moves closer to commercial control of F1?

A 75 per cent stake would effectively give the companies control of F1's commercial and TV rights, but question marks remain as to whether F1 ringmaster Ecclestone or the sport's governing body, the FIA, will allow such a move.

When EMTV purchased 50 per cent of SLEC in March 2000 for an estimated US$1.6 billion (£1 billion) it had an option to buy another 25 per cent from Ecclestone. That option expires on Wednesday.

Kirch, which earlier this month secured a 49 per cent stake in EMTV's F1 shares, says it has raised around US$1billion to purchase the extra 25 per cent, but refused to disclose the source of the extra finance.

Ecclestone and FIA president Max Mosley would prefer control to pass to a group of five major European car manufacturers involved in F1 and could theoretically veto the purchase of the extra stake. However, it appears that a veto can only be exercised if EMTV's existing share comes under new ownership - and by buying only 49 per cent, Kirch may have got around this potential problem.

A Kirch spokesman told The Daily Telegraph that should the extra stake be secured, it is possible that the manufacturers could then buy a share from EMTV and Kirch.

"If the motorsport industry really is interested in taking a share in Formula 1," he said, "we will talk to them. We want to find a way so everyone is satisfied."