F1 News

F1 co-owner: We have made a mistake

Posted on by
f1 flag
F1 flags
f1 flag


One of F1's owners has admitted buying into the sport was "a mistake".

In 2012, Norway's central bank Norges bought a 21 per cent share in formula one along with two other investors, asset managers Waddell and Reed, and Blackrock.

But within Norway, the deal was heavily criticised, and that criticism is now reaching boiling point amid F1 chief executive Bernie Ecclestone's legal troubles.

"We have clearly indicated that we have a zero tolerance to corruption," the Norwegian sovereign oil fund director Yngve Slyngstad told business daily Dagens Naeringsliv this week.

"Yes, we have made a mistake," he admitted.

Ecclestone will be tried on bribery and corruption charges in a German criminal court next month, and according to F1 business journalist Christian Sylt, the latest twist is that Ecclestone's former lawyer Stephen Mullens has also been charged.

Norges' Slyngstad added: "Obviously if this affair is not handled properly we would not want to be a shareholder. In that case we would not hold on to our shares."

Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.

Please share this article & subscribe to our FREE weekly F1 Newsletter


Latest F1 News posts:

See older posts in our F1 News Archive »

Stay Updated by F1-Fansite!

Each subscriber has a change to win one of our2017 F1-Fansite.com Photo Calendars!.
Buy F1 MerchandiseBuy F1 Merchandise of your favourite driver or team.

Early Booking Discounts on F1 Tickets

Buy F1 tickets cheaper at F1-Fansite.com 2016 Formula 1 Season Early Booking Discounts are:
F1 Grand Prix

Book F1 Tickets Mexican F1 GP Mexico '16Available
Book Now
Book F1 Tickets Brazilian F1 GP Brazil '16Available
Book Now
Book F1 Tickets Abu Dhabi F1 GP Abu Dhabi '16Available
Book Now
Book F1 Tickets Australian F1 GP Australia '17AvialableBook Now
Book F1 Tickets China F1 GP China '1710% discountBook Now
Book F1 Tickets Spanish F1 GP Spain '1720% discountBook Now
Book F1 Tickets Monaco F1 GP Monaco '17AvailableBook Now
Book F1 Tickets Austrian F1 GP Austria '1720% discountBook Now
Book F1 Tickets British F1 GP UK '17AvailableBook Now
Book F1 Tickets Hungarian F1 GP Hungary '1720% discountBook Now
Book F1 Tickets Belgian F1 GP Belgium '1725% discountBook Now


Will Hulkenberg deliver the 'giant leap" for Renault?

View Results

Loading ... Loading ...
F1 Polls