SEPTEMBER 9, 1996
FOCA to float?
AS Formula 1 revenues increase annually into the hundreds of millions of dollars it becomes more and more likely that companies involved will sell shares and "go public".
In the past we have suggested that this is a likely route for F1 teams within the next few years, but last weekend the FIAÊPresident indicated that he expects Bernie Ecclestone's FOCA to go public as well, although Ecclestone would probably stay on in a management capacity. This would enable Ecclestone to raise considerable finance from private investors while still running the show.
Max Mosley said that the new Concorde Agreement includes a clause that the FIA has a veto on who the Commercial Rights Holder should be which will avoid problems in the future if FOCA goes public and the shares are sold to someone that the FIA does not consider to be a desirable promoter for F1.