MARCH 28, 2002

Berlusconi says no more cash for Kirch

THE game of negotiations surrounding the Kirch company continues with no-one outside the meetings really knowing what is going on and the media being used to exert pressure on the players. A rescue of the company by Silvio Berlusconi and Rupert Murdoch allied to banks is being discussed but both want control of the business if they agree to take over the Kirch Media operation, which owns the rights to F1.

Berlusconi's Mediaset company says that it is not putting any more money into Kirch. The latest word in Germany is that the Formula One commercial rights would be sold off if that deal occurred - although at the moment it is not clear who would want to buy them as the F1 teams and manufacturers are showing no desire to work with Kirch as they are planning their own World Championship when the current Concorde Agreement ends in 2008.

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