JUNE 12, 2002
That's it for Kirch...
The collapse of Kirch Betieligung means that the stake owned by the company in SLEC, the Formula 1 holding company, is now in the hands of the administrator working with the creditor banks. It is hoped that now that the old Kirch management is out of the way, a quick solution can be found to sell the SLEC shares so that the Formula One group can move towards reorganizing the sport, involving the automobile manufacturers.