Bernie Ecclestone
Formula One
(Auto racing)
European Commission
Chase Carey

See also

Formula One Group

Knowledge Identifier: &Formula_One_Group


Formula One Group

Group of companies responsible for the promotion of the FIA Formula One World Championship and exploitation of the sports commercial rights add

Category: Business (999)

Founded in 1987.

Countries: (30%), United States (20%), Europe (20%)

Main connections: Bernie Ecclestone, Formula One, European Commission

Linked to: BayernLB, McLaren, Formula One Constructors Association, Kirch Group




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When the Concorde Agreement ended in 1987, Bernie Ecclestone ceased being a team owner and established the Formula One Promotions and Administration , to manage TV rights for the teams add something


In 1995 the FIA decided to grant the commercial rights to F1 to Formula One Administration for a 14-year period add something


With FOM having exclusive rights to popular team names like Team McLaren, WilliamsF1, and Tyrrell Formula One, the aforementioned teams protested by rejecting the following Concorde Agreement in 1997 add something


On 22 March 2000 German media company EM.TV & Merchandising purchased Speed Investments for £1,1 billion add something


Due to huge losses and massive expenditure, Kirch's creditors put the company into receivership in 2002 add something


Chinese Grand Prix - In 2002, it was announced that the management of the Shanghai International Circuit had signed a 7-year contract with Formula One Management to host the Chinese Grand Prix starting from the 2004 season until the 2011 season


In mid-November 2004, the three banks sued Ecclestone for more control over the sport, prompting speculation that Ecclestone might altogether lose the control he has maintained for more than thirty years add something


This deal was given approval by the European Commission on 21 March 2006 and finalised on 28 March add something


The Formula One Group is used to refer to several related companies, which although not part of the Group are controlled by the Delta Topco holding company and have business related to Formula One. GP2 Motorsport Ltd was acquired by CVC in 2007, with its ownership controlled by Formula One's holding companies add something


Team McLaren, WilliamsF1, Scuderia Ferrari and Renault F1 formed GPWC Holdings and threatened to form a rival racing franchise in 2008 when their contracts ended in 2007 add something


The following day, at a meeting of team bosses at Heathrow Airport in London, Ecclestone offered the teams a total of £260,000,000 over three years in return for unanimous renewal of the Concorde Agreement, which was due to expire in 2008 add something


The planned flotation was kept on hold throughout 2012, until it was revived in April 2013 when Ecclestone announced it would take place within the year add something


However, the flotation was delayed until October 2012, with Ecclestone citing volatile markets and problems in the Eurozone add something


In 2014, the company signed Steve Nielsen as its sporting manager add something


Singapore - Singapore will remain on the F1 calendar through at least 2017, after race organisers signed a contract extension with Formula One Management on the eve of the 2012 event


The deal was approved by regulators and completed on 23 January 2017 add something


Bernie Ecclestone - Ecclestone was removed from his position as chief executive of Formula One Group on 23 January 2017, following its takeover by Liberty Media in 2016


Bernie Ecclestone - On 23 January 2017, it was announced that Bernie Ecclestone had been replaced by Chase Carey as chief executive of the Formula One Group, though he has been appointed as chairman emeritus and will act as an adviser to the board