JANUARY 10, 2003
Bernie and Silverstone
As we reported about a month ago it seems that Bernie Ecclestone is on the verge of taking control of the British Grand Prix. We hear that Ecclestone has agreed a deal which will see him taking over Octagon Motorsport in totality, which will give him control of all the major British racing circuits with the exception of Donington Park. The word on the street at the Autosport International Show in Birmingham was that the deal cost him $1 because Octagon owners Interpublic were keen to stem losses and get rid of the troublesome subsidiary.
The deal is yet to be officially confirmed and there remain question marks over the British GP lease deal between the BRDC and Octagon because the BRDC has the right of veto if the lease is transferred to another owner. Having said that it is hard to imagine that the BRDC would veto the transfer of the lease to Bernie Ecclestone as this would only cause trouble in the future.