06/12/2004
NEWS STORY
Although some would have you believe that the dynasty is coming to an end and that Bernie Ecclestone is about to lose his vice-like grip on Formula One, the man himself seems remarkably calm.
In recent weeks a number of people have told Pitpass that in conversations with Ecclestone, the F1 supremo has seemed remarkably calm, in good spirits even.
Today, following the decision in the High Court to rule against Ecclestone and in favour of the three banks that 'own' 75% of F1, the Englishman seemed totally unflustered.
"Nothing at all," he replied, when asked by Reuters what the ruling meant for him.
"The banks want to get out," he continued. "These people didn't get their shares out of choice, they got them as a security. They got the house and they don't want the house."
He was referring to the fact that the banks didn't buy their stake in F1 but instead inherited it following the collapse of the Kirch Media empire.
"Now they want to cash in the house and that's what they're trying to do," he continued. "We have no problems with the banks. This is just a problem of them trying to put value on their shares."
Ecclestone has made it clear in the past that he would like to buy back the banks' interest in F1, but after much consideration the banks have opted not to sell.