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SEPTEMBER 28, 2005

Bernie buys a glacier

In addition to running Formula 1 Bernie Ecclestone has a large property empire and there are reports in Switzerland that he has just paid out $3.8m to buy a ski resort called "Glacier 3000''. The investment is reportedly being shared with two other investors. The Glacier 3000-Les Diablerets resort - which in rough translation means "Little Devils" - is located just 10 miles from Gstaad where Ecclestone already owns property and is unusual in that it is possible to ski from October to July each year. The resort currently caters for 120,000 visitors a year but the plan is to double that number. The resort features a gourmet restaurant located at 3000m and a 10m descent, the longest ski run in the region. The resort is one of Switzerland's most ambitious but currently unsuccessful development projects but Ecclestone hopes to spice the place up and make a killing when the beautiful people start to arrive.