Manufacturers on verge of F1 buy-in

The manufacturers, which include BMW, Ferrari (Fiat), Jaguar (Ford), Renault and Mercedes, have formed the European Automobile Manufacturer's Association, led by Fiat chief Paolo Cantarella. They all have vested interests in Formula 1 teams and want to take a share in SLEC, Ecclestone's family trust holding company which owns the advertising and television rights for Formula 1, so they can become partners in the commercial side of the sport.

"The trust is talking to the manufacturers and we will hear within a few weeks whether it will own 25 per cent or 35 per cent," Ecclestone told British newspaper The Sunday Times. "It depends on the outcome of EMTV [the debt-troubled German media company to which Ecclestone sold half the shares of SLEC]. Until that is settled, nobody knows."

EMTV has an option to buy a further 25 per cent share, but the television company looks set to sell off its stake due to a plummeting share price, which the manufacturers could then purchase. Ecclestone could buy back some of the shares he sold to EMTV to sell on to EAMA, increasing its stake to a more sizeable 35 per cent.

The 'Big Five' manufacturers are concerned that if a force from outside F1 buys EMTV's stake, it would jeopardise the countless millions they have invested in the sport. Ecclestone, however, is unconcerned with who might buy EMTV and its 50 per cent shareholding.

"I'll deal with whatever happens when it happens," he added. "They are discussing the amount as we speak. The manufacturers want to be inside to see what's going on. If they have a stake, they will have a board position and as much say on things as anyone else. All I know is that people want me to stay here as long as I want, which I will do, and who owns the shares doesn't make a lot of difference to me."

FIA president Max Mosley agreed with that sentiment in a recent interview when he said: "Whoever controls Bernie's company will have practically no say in the running of the sport because they just have one vote in 26 on the Formula 1 Commission. I think we have checks and balances in F1 which would mean that the manufacturers would be interested really in the commercial exploitation, rather than in how the sport was actually run. Obviously we would listen to them, like we listen to Bernie, if it comes to that, but that's a very different thing from a massive influence. I believe that if they do come in, I don't think it will do any harm. On the contrary, I think it will do good."