![]() Remarkably, in fact, the opposite is true. The widely-held theory was that the increase in prize money paid to the teams to stop them leaving the sport could put F1’s debt repayment under pressure. In a nutshell, the higher the direct costs of running F1, the less money it has to repay debt. If F1 fails to make these repayments then the sport could end up in the hands of the lenders since the loan was secured on its rights. To recap, CVC borrowed $2.8bn from Lehman Brothers and the Royal Bank of Scotland and in 2007 it made annual interest payments of $238.4m on this. Leon, you might find this worth a read…”As any seasoned Pitpass readers will know, the key to F1’s future is the huge debt which CVC borrowed when it bought the sport in 2006. ![]() You can follow us on Twitter, subscribe to our RSS feed or get the latest updates by email. Stay up-to-date on the 2010 F1 calendar with F1 Fanatic.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |