08/12/2010
NEWS STORY
Allsport Management, the company which runs Formula One's corporate hospitality and trackside advertising has announced that founder Patrick McNally is to retire next year.
McNally, who founded Allsport twenty-seven years ago, and is thought to be worth over half-a-billion pounds, currently manages Bernie Ecclestone's Formula One Group in addition to running the Paddock Club. CVC, the rights holders for Formula One, bought Allsport in 2006.
While McNally steps down, most likely to take a non-executive role, AEG Europe chief executive David Campbell, who amongst his roles runs London's O2 Arena, is to join Bernie Ecclestone in a capacity which will see him take charge of various commercial aspects of the sport including sponsorship.
Campbell, who previously enjoyed success with Pepsi and the London Tourist Board, was also head of Virgin Radio, masterminding the £225m deal which saw it sold to SMG in 2000.
According to some reports, Campbell is seen by some as a possible successor to Ecclestone, news which might not go down to well with a certain person in Grove.