F1 owners to repay $313m debt

Thu, 7 December 2006, 03:29

The owners of formula one have reportedly committed to paying back a $313m loan it took out five years ago to acquire the sport’s commercial rights from the FIA.

Reports in September said that CVC Capital Partners and Bambino, Bernie Ecclestone’s family trust, were being sued for the unpaid debt by the Swiss company Kamos-Finanz.

The British newspapers Sunday Independent and Scottish Sunday Express, however, say this week that a possible spanner in the works is a High Court case – to be heard in March 2007 – that could delay Kamos’ claim on the debt.


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