JUNE 12, 2000
More on British American Racing
Both men were partners in the Mount Eagle company, which previously owned 35% of the shares in the team. This has now been reduced to around 10% which would make sense as the third Mount Eagle investor Jerry Forsythe confirmed last year that he owned around 15% of the team (which would equate to about 40% of Mount Eagle's 35%). At the same time we hear that Reynard's share in BAR has been reduced from 15% to 5%.
Buying out the other partners has two values to BAT: it gives them more control of the racing team and means that they can sell it much more easily if a buyer appears, and secondly it gives the shares a notional value so that BAT can justify demanding a high price. If our sources are correct the new deal values the team at $165m.