Mosley: Ecclestone Won't Bid for F1 Stakes

Max Mosley, president of Formula One's governing body the FIA, revealed on Friday his belief that Grand Prix chief Bernie Ecclestone will not step in to bail out struggling German media company Kirch.

Ecclestone sold a 58.3 percent share in Formula One's commercial rights to Kirch last year, but the company is now in severe financial troubles.

It has been rumoured that Ecclestone is planning to place a £490 million (British pounds) bid for that stake, but Mosley believes Ecclestone would have no interest in a deal.

"I don't see him buying it back," said Mosley. "There doesn't seem to be any reason why he would want it.

"I don't think it would make any difference (to Formula One). Bernie is in charge for five years anyway. I am just keeping out of the situation."

Mosley did reveal that the group of car manufacturers consisting of Fiat, Ford, BMW, DaimlerChrysler and Renault, have been "having the odd meeting" and hinted they may make an offer.

A spokesperson for DaimlerChrysler revealed on Thursday that they were "just watching everything with interest", while Fiat CEO Paolo Cantarella, who is leading the breakaway group, declined to comment.

The manufacturers have set up a company to run a rival series after 2007 if Kirch remain in control of the television rights until then.

They are in dispute over Kirch's apparent desire to put Formula One coverage onto pay-per-view television, and could be interested in attaining the crucial broadcasting rights themselves.