MARCH 19, 2002
Banks meet to discuss Kirch
Rumors circulating in German financial circles say that bankruptcy is now inevitable and that will mean that the Formula 1 rights could be caught up in the debacle as assets of the company. This could mean that the company's majority shareholding in the Formula One group of companies will be sold on to someone else - if a buyer can be found. Alternatively, Formula 1 could turn its back on Kirch. The FIA has the right to terminate the commercial deal if it does not like what is happening with the commercial rights holder and it is possible that a completely new deal could be struck between the various parties involved. This is all speculation until the future of Kirch is known for certain.