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chop456
12-18-03, 05:38 AM
http://f1.racing-live.com/en/headlines/news/detail/031217210624.shtml

Car makers reach a deal with Ecclestone
They will get a bigger share of the advertising proceeds 17/12/03 - 20:58]

Ecclestone found a way to please the car makers.

Auto makers involved in Formula One have managed to secure a deal with the owners of the prestigious motor racing event giving them more decision-making powers and a bigger share of the proceeds from advertising, the weekly magazine WirtschaftsWoche reported Wednesday.

"We've achieved all of our goals," the magazine quoted a representative of the car makers as saying in a pre-release of a report to be published on Thursday.

WirtschaftsWoche said that the car makers had reached a compromise with Formula One frontman Bernie Ecclestone at a meeting in Monte Carlo last week.

Under the terms of the deal, the car makers - Fiat (Ferrari), DaimlerChrysler (Mercedes), BMW, Ford (Jaguar) and Renault - would have a say in all strategically important decisions regarding the event and see their shares of the advertising proceeds increased from 47 percent at present.

In return, the auto makers would abandon plans to set up a rival event from 2008, the magazine said.

Chaos
12-19-03, 11:11 AM
in other words, they get more money.