“Last year Stacourt paid a £670,000 dividend and a £5.8 million consultancy fee to Formula FB Business, Briatore's Virgin Islands management company, a £600,000 increase on what was paid a year earlier. Stacourt is controlled by Briatore's FB Trust and its revenues come from selling the rights to broadcast F1 in Spain,” noted the aforementioned publication.
Curiously enough, it seems Formula One boss Bernie Ecclestone was not involved in the sport's commercial rights in regards to the Spanish market, as he handed those rights to friend and business partner Briatore – with whom he also co-owns English football club Queen's Park Rangers.
Briatore started to make more money out of the commercial rights for the Spanish market at the beginning of last year, as the country hosted two grands prix per year – Barcelona and Valencia.
However, that was practically the only good news that came Briatore's way this year, as the Italian was afterwards involved in the famous crash-gate which resulted in a definitive lifetime ban from the sport, handed by the FIA. The 59-year old is currently appealing that decision in a civil court, where he had his first hearing yesterday.
Briatore will hear the final verdict of the court on January 5th, which means he'll get to enjoy his Christmas holidays before the judges put an end to his war with the FIA.
Google News