UBS is headed by chief executive Oswald Grubel, who previously brought the Swiss bank Credit Suisse to F1, and was a BMW-Sauber board member.
“The global reach of F1 complements the many local activities we support,” said Grubel.
The deal will be formally launched at the Singapore grand prix next month.
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Police detonate suspected bomb in F1 paddock(0)Monaco’s party atmosphere late on Thursday was broken by the sound of an explosion. Bomb police cordoned off an area of the formula one paddock near the media centre after someone noticed a suspicious plastic package. Experts detonated it with a controlled explosion just before 10pm, the Press Associated reported. It also emerges that some |
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Mansell in a sling after cycling smash(0)Nigel Mansell is F1′s one-handed FIA race steward this weekend at Monaco. The 1992 world champion walked into the Monte Carlo paddock with his arm in a sling. What happened? “Broken collarbone,” the former Ferrari, Williams and McLaren driver told Swiss newspaper Blick on Thursday. “I fell off my bike.” Mansell, 58, is an avid |
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Finance police raid Monza(0)There is trouble afoot at Monza, the scene of the famous and historic Italian grand prix. On Tuesday morning, Italy’s finance police the Guardia di Finanza entered the Autodromo Nazionale to investigate seven people involved with the operation of the circuit. According to Il Giorno and La Repubblica, the Monza prosecutor suspects tax offenses, false |
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CVC sells some of F1 stake(0)Even ahead of F1′s Singapore floatation, the sport has some new owners. Reuters, the specialist financial market news agency, said US-based asset managers Waddell and Reed, Blackrock and Norway’s Norges Bank have bought a $1.6 billion stake from existing owners CVC. The report cited a source “with direct knowledge of the matter”. The companies did |
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Ecclestone: ‘Cheap’ F1 worth billions(0)Formula one is worth about $8 or $9 billion, as the sport’s owner CVC confirmed it has this week sold a 21 per cent stake to new investors. News of the sale coincided with the launch of pre-marketing ahead of one of the biggest ever sports floatations, data by the financial experts Thomson Reuters shows. |
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