GPMA wants dialogue with CVC

The Grand Prix Manufacturers Association has welcomed the opportunity to pursue a “constructive dialogue” with CVC, the venture capital firm which looks set to control Formula 1’s commercial rights in future.

The GPMA comprises five dissident car manufacturers – DaimlerChrysler, Renault, BMW, Honda and Toyota – that are planning to leave the FIA-run world championship unless they are granted a larger share of F1’s revenues. The group hinted that it will seek an solution but if necessary will press ahead with its plans for a breakaway series.

“Today’s statement by CVC Capital Partners, BayernLB and Bambino Holdings, confirming that Alpha Prema has reached agreement to acquire BayernLB's and Bambino's interests in Formula One Group, has been received with interest. We look forward to entering into a constructive dialogue with Alpha Prema as we pursue our objective to further develop the sport for the benefit of all stakeholders and in particular the fans. Meanwhile, the GPMA and its operating partner iSe will continue the preparations for the New Series.”

http://www.gpma-online.com/en/