Kirch gets more time

THE Dresdner Bank, which is owed around $400m by the Kirch Group, the commercial rights holders to Formula 1 racing, has granted the German firm an extension in order to pay the money outstanding. The news has not been confirmed by Kirch but will come as a welcome boost to the company as it juggles to pay off its debts having expanded dramatically in recent years in order to become a big player in the media markets of the world.

Follow grandprixdotcom on Twitter

Print News Story