MARCH 30, 1998
Working towards the flotation
THERE are signs that the FIA and Bernie Ecclestone are keen to solve the outstanding problems between the governing body and the European Union. In what is being seen as a conciliatory gesture, the FIA last week announced that it is releasing the TV rights to a number of FIA series to individual promoters on the understanding that the copyright of the film belongs to the FIA and that the coverage is fair and accurate. The FIA will, however, continue to have direct control over the exploitation of the TV rights for Formula 1, Formula 3000, the World Rally Championship and the International GT series.
At the same time we hear that the teams are edging towards agreement over the 1998-2008 Concorde Agreement. There is now only one point on which there are problems. We understand that this is related to the question of shareholdings in the company for the teams.
At the moment McLaren, Williams, Ferrari, Jordan and Arrows have not signed the agreement. As soon as all the signatures are on the document progress can be made on the flotation, although this cannot go ahead until the EU problems are resolved.
Other stories for MARCH 30, 1998